Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Carrier, the largest manufacturer and distributor of Heating Ventilating and Air-conditioning (HVAC) solutions and part of United Technologies Corp.’s (UTX - Analyst Report) UTC Building & Industrial Systems, recently signed an agreement to form a joint venture with Robert Bosch North America Corporation. Robert Bosch North America Corporation is a supplier of technology and services. The financial terms were not disclosed. The respective brands and revenue channels for each company will remain independent of one another.

The joint venture aims to develop and manufacture geothermal and water-source heat pumps for the North American residential and commercial segments.
    
According to the U.S. Department of Energy, geothermal heat pumps consume 25%-50% less electricity than conventional heating or cooling systems and are competitive in comparison to other products available in the market. They use the constant below-ground temperature of soil or water to heat and cool buildings and are suitable for environment-friendly heating and cooling options available to consumers.

The sales of geothermal heat pumps are expected to nearly triple by 2020 and this joint venture is an initiative in this endeavor to enhance Carrier’s offerings and services in the growing market.  The geothermal and water-source heat pumps will be manufactured at the joint venture’s Florida heat pump manufacturing plant in Fort Lauderdale.

Based in Hartford, Conn., United Technologies, the parent company of Carrier, provides high-end technology products and services to the building systems and aerospace industries worldwide. The company is a diversified business conglomerate serving various end markets such as aerospace, defense and commercial construction. The business diversification allows United Technologies to remain profitable amid challenging macroeconomic environment.

United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Hutchison Whampoa Limited (HUWHY), ITT Corporation ((ITT - Analyst Report) and Tyco International Ltd. (TYC - Analyst Report), each having a Zacks Rank #2 (Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
BITAUTO HOLD BITA 35.33 +14.82%
ANI PHARMACE ANIP 24.79 +14.66%
E HOUSECHINA EJ 10.99 +9.24%
CANADIAN SOL CSIQ 26.97 +7.15%
INTERNATIONA ICAGY 33.30 +5.38%