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Carrier Global (CARR - Free Report) continues to make strong efforts toward expanding its Fire & Security segment.
Recently, one of its brands, LenelS2 launched an updated version of the flagship access control and alarm monitoring system — OnGuard.
Notably, OnGuard v8.2 features an override functionality, which allows first responders to access doors when they are locked. This feature seems to be useful during site-wide lockdown situations.
Further, it comes with reporting and dashboard functionality to offer more customization options to users.
Additionally, OnGuard v8.2 features cloud support from Amazon Web Services and Microsoft Azure. Moreover, it comes with Amazon RDS cloud database support and Azure SQL support.
We believe all these useful features and functionality are likely to aid the adoption of OnGuard v8.2 across various schools and other campuses, manufacturing and chemical facilities.
Another brand of the company Edwards recently introduced an advanced software-as-a-service (SaaS) solution called ConnectedSafety+, which offers predictive maintenance insights to help customers in achieving optimized system functionality by taking preventative action quickly.
Carrier’s Supra recently integrated scheduling and lockbox access to its showing management tool, which is backed by BrokerBay. The new functionality allows real estate agents to access Supra iBox lockboxes directly from the scheduling mobile app, providing a seamless property access experience.
Further, Carrier’s Kidde introduced smart detection products and devices that provide instant notifications for a range of home safety threats, including smoke, carbon monoxide, water leaks, frozen pipes and indoor air quality issues.
We believe all these endeavors are likely to aid the performance of the Fire and Security segment in the near term.
In the first quarter of 2023, the segment generated $869 million in revenues, which accounted for 16.5% of net sales. The figure was up 6% year over year.
We note that the growth prospects of the underlined segment are likely to benefit the overall performance of Carrier. This is likely to instill investors’ optimism in the stock in the days ahead.
The Zacks Consensus Estimate for 2023 revenues is pegged at $22.15 billion, indicating growth of 8.5% from 2022.
CARR has gained 15.9% in the year-to-date period, outperforming the industry’s rally of 12.9%.
Zacks Rank & Stocks to Consider
Currently, Carrier Global carries a Zacks Rank #3 (Hold).
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Carrier (CARR) Unveils OnGuard v8.2, Boosts Security Offerings
Carrier Global (CARR - Free Report) continues to make strong efforts toward expanding its Fire & Security segment.
Recently, one of its brands, LenelS2 launched an updated version of the flagship access control and alarm monitoring system — OnGuard.
Notably, OnGuard v8.2 features an override functionality, which allows first responders to access doors when they are locked. This feature seems to be useful during site-wide lockdown situations.
Further, it comes with reporting and dashboard functionality to offer more customization options to users.
Additionally, OnGuard v8.2 features cloud support from Amazon Web Services and Microsoft Azure. Moreover, it comes with Amazon RDS cloud database support and Azure SQL support.
We believe all these useful features and functionality are likely to aid the adoption of OnGuard v8.2 across various schools and other campuses, manufacturing and chemical facilities.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Expanding Fire & Security Offerings
Another brand of the company Edwards recently introduced an advanced software-as-a-service (SaaS) solution called ConnectedSafety+, which offers predictive maintenance insights to help customers in achieving optimized system functionality by taking preventative action quickly.
Carrier’s Supra recently integrated scheduling and lockbox access to its showing management tool, which is backed by BrokerBay. The new functionality allows real estate agents to access Supra iBox lockboxes directly from the scheduling mobile app, providing a seamless property access experience.
Further, Carrier’s Kidde introduced smart detection products and devices that provide instant notifications for a range of home safety threats, including smoke, carbon monoxide, water leaks, frozen pipes and indoor air quality issues.
We believe all these endeavors are likely to aid the performance of the Fire and Security segment in the near term.
In the first quarter of 2023, the segment generated $869 million in revenues, which accounted for 16.5% of net sales. The figure was up 6% year over year.
We note that the growth prospects of the underlined segment are likely to benefit the overall performance of Carrier. This is likely to instill investors’ optimism in the stock in the days ahead.
The Zacks Consensus Estimate for 2023 revenues is pegged at $22.15 billion, indicating growth of 8.5% from 2022.
CARR has gained 15.9% in the year-to-date period, outperforming the industry’s rally of 12.9%.
Zacks Rank & Stocks to Consider
Currently, Carrier Global carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are CoStar Group (CSGP - Free Report) , Akamai Technologies (AKAM - Free Report) and AMETEK (AME - Free Report) . CoStar Group sports a Zacks Rank #1 (Strong Buy), while Akamai Technologies and AMETEK carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
CoStar Group shares have increased 12.3% in the year-to-date period. The long-term earnings growth rate for CSGP is currently projected at 20%.
Akamai shares have increased 5.1% in the year-to-date period. The long-term earnings growth rate for AKAM is currently projected 10%.
AMETEK shares have increased 11.7% in the year-to-date period. The long-term earnings growth rate for AME is currently projected at 8.95%.