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Here’s What Makes Carrier Global (CARR) A Great Investment Choice

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  • CARR

Davis Funds, an investment management firm, published its “Davis Opportunity Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. In the year-to-date period through July 31, Davis Opportunity Fund returned 23.32%, outperforming the S&P 1500 Index’s 18.07% return. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Davis Opportunity Fund, in its Q3 2021 investor letter, mentioned Carrier Global Corporation (NYSE: CARR) and discussed its stance on the firm. Carrier Global Corporation is a Palm Beach Gardens, Florida-based home appliance company with a $48.6 billion market capitalization. CARR delivered a 48.78% return since the beginning of the year, while its 12-month returns are up by 48.86%. The stock closed at $56.12 per share on December 03, 2021.

Here is what Davis Opportunity Fund has to say about Carrier Global Corporation in its Q3 2021 investor letter:

"In the industrial space, we own a select list of well-entrenched market leaders, such as Carrier Global, a global leader in heating, ventilation and air conditioning (HVAC) solutions.. These have recovered this year from their lulls in 2020, yet continue to trade at reasonable multiples of subdued earnings, creating a potential setup for the double play of recovering multiples on recovering earnings."

HVAC, Aircon
HVAC, Aircon

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Based on our calculations, Carrier Global Corporation (NYSE: CARR) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. CARR was in 46 hedge fund portfolios at the end of the third quarter of 2021, compared to 46 funds in the previous quarter. Carrier Global Corporation (NYSE: CARR) delivered a -2.25% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.