Is Carrier Global a Smart Buildings Products & Equipment Stock to Own? By StockNews

© Reuters. Is Carrier Global a Smart Buildings Products & Equipment Stock to Own?

HVAC company Carrier Global (NYSE:) has generated impressive returns over the past few months, relying on its broad portfolio of products and services and strategic alliances. However, with the stock hitting its $51.96 all-time high on Friday, does it have further upside to deliver? Let’s find out.One of the leading global providers of healthy, safe, and sustainable building and cold chain solutions, Carrier Global Corporation (CARR), in Palm Beach Gardens, Fla., operates through three segments: heating, ventilation, and air conditioning (HVAC); refrigeration; and fire & security. The company has played an important role in COVID-19 vaccine distribution, including launching Carrier Pods monitored by Sensitech, and developing the new Lynx digital platform in collaboration with Amazon.com, Inc.’s (NASDAQ:) Amazon Web Services (AWS)..

Consequently, the stock has rallied 48.6% over the past nine months and 12.6% over the past month to close Friday’s trading session at $51.90, after hitting its $51.96 all-time high.

CARR reported impressive first-quarter results, with sales driven primarily by continued strength in North American residential HVAC. Amid this favorable backdrop, the company raised its full-year outlook for 2021. It expects 7% – 10% sales growth, up from 6% – 8%, and its adjusted EPS is expected to come in between $1.95 – $2.05, up from $1.85 – $1.95. CARR also declared a $0.12 quarterly dividend, payable on August 10. So, its near-term prospects look promising.

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