Carrier Global Corp. (CARR)

In the past six months, Carrier reported Q3 2025 EPS of $0.67, exceeding expectations, but net sales decreased by 7%. The company experienced a sharp downturn in the North American residential HVAC market and initiated cost-control measures. The Board of Directors announced an increase in the quarterly dividend to $0.24 per share and authorized a $5.0 billion share repurchase program. Carrier announced an agreement to sell its Riello business to Ariston Group. Several brokerages maintained "Buy" or "Outperform" ratings but adjusted price targets downwards.

Demand for Carrier Global Corp.'s products and services exhibits seasonality, particularly within its HVAC segment, which is influenced by weather patterns. Residential HVAC sales can experience fluctuations, while the commercial HVAC business has shown consistent growth. Demand for refrigeration solutions is tied to global supply chains, and demand for fire and security technologies is driven by building codes and safety regulations.

Carrier Global Corporation specializes in intelligent climate and energy solutions, primarily in the HVAC industry. It focuses on providing healthy, safe, sustainable, and intelligent building and cold chain solutions. Founded in 1915, Carrier spun off from United Technologies in 2020. Its core business includes HVAC systems, refrigeration systems, and fire and security technologies. The company has been divesting non-core assets to focus on higher-margin climate solutions.

Carrier Global Corporation has an extensive global presence, serving customers in over 160 countries across six continents. It operates across Asia-Pacific, Europe, the Middle East, Africa, and the Americas, with the United States as its largest market. Europe has shown significant growth, driven by increased demand for HVAC products, particularly with the acquisition of Viessmann Climate Solutions. Carrier is also experiencing strong growth in India and the Middle East.

Carrier Global Corporation has maintained a strong brand reputation, being named to Fortune's World's Most Admired Companies list for four consecutive years. The acquisition of Viessmann Climate Solutions expanded Carrier's presence in the European HVAC market. The company's focus on sustainability and innovation, including a partnership with ZutaCore and the launch of its first air-cooled commercial heat pump in Europe, positively contributes to its brand image.

Carrier Global Corporation is a widely-held, publicly-traded company with its ownership distributed among millions of investors. Institutional investors hold a significant majority of Carrier's shares, approximately 67.96% to 91% of the company's stock. Major institutional owners include Vanguard Group Inc., Capital Research Global Investors and BlackRock, Inc.. Viessmann Generations Group holds a significant stake of about 5.95%. Individual investors and smaller funds hold the remaining float, while insiders hold a minimal stake.