COVID-19 helps lift Carrier

Article Excerpt

CARRIER GLOBAL CORP. $29 is a buy. This company (New York symbol CARR; Manufacturing & Industry sector; Shares o/s: 866.2 million; Market cap: $25.1 billion; Divd. yield 1.1%; TSINetwork Rating: Average; www.carrier.com) is a leader in heating, ventilation and air conditioning (HVAC) equipment. It also makes smoke detectors, and other fire and security products, as well as refrigeration equipment. United Technologies (now called Raytheon Technologies) spun it off in April 2020. For each share held, investors received 1 share in Carrier. Carrier has jumped 143% since the spinoff. That’s partly because the COVID-19 pandemic will force many businesses to upgrade their HVAC systems to help prevent their employees from contracting the disease. In fact, commercial building manager Cushman & Wakefield plc (New York symbol CWK) has formed a new alliance with Carrier. Under this deal, Carrier will evaluate and upgrade certain buildings to limit the transmission of the virus. Carrier Global is a buy. buy…