Carrier Global Corp $ 30.49 0.61 (2.04%)
Carrier Global Corp News and Headlines -
Southeastern Asset Management, the firm founded by Mason Hawkins (Trades, Portfolio), disclosed this month that its top trades during the second quarter included an increased bet in Carrier Global Corp. (CARR) and sold out transactions in the following four companies: Raytheon Technologies Corp. (RTX), Park Hotels & Resorts Inc. (PK), Enerpac Tool Group Corp. (EPAC) and Dillard's Inc. (DDS).
The Memphis, Tennessee-based firm manages the Longleaf Partners Funds, which seek long-term growth capitalization through companies with good businesses, good people and good prices. More specifically, Southeastern looks for companies with strong balance sheets, capable management teams and
Raytheon Technologies Corporation (RTX) recently reported earnings results for the second quarter of 2020. This was the first quarter following the Carrier (CARR) and Otis (OTIS) spinoffs and the merger of Raytheon and United Technologies to form Raytheon Technologies. Raytheon Technologies now consists of Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense.
I've stated in previous articles that the aerospace and defense sector remains among my favorite places to invest due to higher spending on defense in both the U.S. and abroad. In this article, we will look at the recent quarter and valuation
Chris Davis (Trades, Portfolio) has revealed his second-quarter portfolio. Major trades include selling out of Raytheon Technologies Corp. (RTX) and Magnolia Oil & Gas Corp. (MGY), new buys in Carrier Global Corp. (CARR) and Mohawk Industries Inc. (MHK) and a reduction in his top holding Amazon.com Inc. (AMZN).
Davis purchases durable, well-managed businesses that can be purchased at value prices and held for four to seven years on average. Davis focuses primarily on financial services companies and he looks to buy companies when they are out of favor.
Davis' portfolio contained 119 stocks,
In the second quarter of 2020, gurus continued to have high turnover rates in their portfolios as the economic downturn in the U.S. and much of the world has led them to re-evaluate their holdings and distribute their funds to new opportunities.
According to GuruFocus's Hot Picks, a feature which allows investors to screen for the stocks that had the most guru buys or sells over a specific time frame, the five most popular stocks among gurus during the second quarter (as determined by net buys) were CrowdStrike Holdings Inc. (CRWD), Wells Fargo & Co. (WFC), Edwards Lifesciences
With the goal of achieving long-term capital appreciation, the guru's New York-based firm invests in undervalued companies that have good financial strength, a competitive edge and are able to generate free cash flow. According to its website, the investment team also takes downside risk into consideration before pursuing a position.
Taking these criteria into consideration, Olstein entered five new positions during the quarter, the largest of which were in Carrier Global Corp. (CARR) and Johnson & Johnson (JNJ).
Diamond Hill Capital (Trades, Portfolio) disclosed this week that its top five buys for the second quarter were VF Corp. (VFC), Carrier Global Corp. (CARR), Mondelez International Inc. (MDLZ), Public Storage (PSA) and Proctor & Gamble Co. (PG).
Established in 2000, the Columbus, Ohio-based firm invests in stocks based on fundamental analyses of companies' profitability and market position, financial and competitive position, management quality, valuation and growth components of valuation.
As of the quarter's end, Diamond Hill's (DHIL) $16.96 billion equity portfolio contains 149 stocks, with 10 new positions and a
The Dodge & Cox Stock Fund had a total return of 20.0% for the second quarter of 2020, compared to 20.5% for the S&P 500 Index. For the six months ended June 30, 2020, the Fund had a total return of –15.0%, compared to –3.1% for the S&P 500.
During the first half of 2020, the spread of the coronavirus (COVID-19) evolved into a global pandemic that disrupted major economies, increased financial market volatility, and abruptly ended the longest stock market bull run in U.S. history. The U.S. equity market performed strongly in the second quarter recovering off
Carrier (CARR) (63%, 2.41%), the HVAC manufacturer that was spun out of United Technologies at the beginning of April, was a positive contributor. Though it was initially overshadowed by the simultaneous spin of more expensive Otis Elevators, which we sold soon after its distribution, Carrier is a high-quality business. We bought additional Carrier shares when the stock traded at less than half our appraisal and a 7x trailing P/E, against similar competitors trading at 13-17x. Carrier owns strong brands and has a reasonable debt load. As a result of COVID shutdowns and abnormally high growth in last year’s first
Longleaf Partners Fund added 18.08% in the second quarter, while the S&P 500 Index rose 20.54%. Most companies produced positive results in the quarter, as stocks broadly rebounded post the COVID-19 lows in March and April. However, not owning the market’s top contributing Information Technology and holding an average 11% cash allocation took a combined -4.3% toll on relative returns in the quarter. While our investments performed nicely from the lows, this was not significant enough to offset the declines in the first quarter. We are confident in the quality of our businesses and in our aligned management teams’ ability
Some spinoffs can unlock the true value of businesses by allowing them to focus on their niches better than being part of a bulkier multi-faceted corporation allows. On the other hand, some spinoffs are made by the parent companies to shed dead weight, help get rid of legal liabilities or satisfy regulatory requirements in order to be cleared for a merger or acquisition. A spinoff is certainly no guarantee of success or failure in and of itself, as a lot depends on why the spinoff was made and whether its collection of assets and operations works well together.
Three CEOs took million-dollar bites of their own cooking in May.
At Carrier Global Corp. (CARR), which makes heating and air conditioning equipment, Chief Executive David Gitlin spent just over $1 million to increase his stake.
At Greenbrier Companies Inc. (GBX), which manufactures rail cars, a trust connected with CEO William Furman added 100,000 shares to the 240,096 shares it already owned. The trust paid $1.65 million.
And at Zions Bancorp NA (ZION), a bank with headquarters in Salt Lake City, CEO Harris Simmons spent $1.05 million to add to his hoard of shares.
Carrier interests me because it’s
According to GuruFocus Insider Data, these were the largest CEO buys during the past week.
Greenbrier Companies Inc. (GBX) Chairman and CEO William A. Furman bought 100,000 shares on May 15 at a price of $16.52. The price of the stock has increased by 29.24% since then.
Greenbrier Companies designs, manufactures and markets railroad freight car equipment in North America and Europe, marine barges in North America and provides wheel services, railcar refurbishment, parts, leasing and other services to the railroad. Its segments include Manufacturing, Wheels, Repair and Parts and Leasing and
U.S. stocks were in the green on Friday despite the unemployment rate reaching 14.7%, a number that has not been seen since the Great Depression. The Dow Jones Industrial Average gained 1.33% to 24,192, the S&P 500 Index rose 1.20% to 2,915 and the Nasdaq Composite advanced 1.12% to 9,080.
Non-index stocks have also posted gains and
S&P Global Indices disclosed on April 1 that department store retail giant Macy’s (M) “will be removed from the S&P 500 effective prior to the open of trading on Monday, April 6.” The company will be moved to the S&P 600 SmallCap Index instead, and it will be replaced by Carrier Global Corp. (CARRW), an air conditioning company being spun off of United Technologies (UTX). According to S&P Global Indices, Macy’s no longer belongs on the S&P 500 because of its low market cap and low growth expectations.
During the first three months of 2020, shares of Macy’s fell 71%
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