Carrier Global CARR continues to make strong efforts toward expanding its fire and security offerings.
This is evident from the company’s latest introduction of a video surveillance recorder, namely the TruVision TVN12, by one of its fire and security brands – Aritech.
Notably, the new recorder comes with high channel capacities (up to 16), hard drives and different recording options.
TruVision TVN12 has been integrated into Aritech’s UltraSync cloud network, with the help of which installers will be able to leverage optimization at different levels, such as having access to reliable connections and remote access to system status.
Moreover, the recorder can be managed via TruVision’s TVMobile application with its UltraSync integration.
All these features make the underlined recorder suitable for video surveillance installations in small- to medium-sized businesses.
Strength in Fire & Security Segment
The introduction of TruVision TVN12 has added strength to Carrier’s fire and security segment.
Moreover, it positions Carrier well to gain traction among businesses like banks, retail shops, jewelers, cosmetics stores and bakeries, to name a few. This is likely to contribute well to the revenues of the fire & security segment, which in turn will drive its overall top line growth.
This in turn will aid the company in gaining investors’ confidence in the near term.
On a year-to-date basis, Carrier has lost 22.4% against the industry’s decline of 37.9%.
Apart from the latest move, the introduction of the new core of land fire protection systems, namely the Marioff HI-FOG Land Pump Unit for land applications, by its brand Marioff, remains a major positive.
Further, Marioff’s recent contract with Shanghai Waigaoqiao Shipbuilding to provide Marioff HI-FOG water mist fire protection system in the latter’s second Vista class cruise ship for CSSC Carnival Cruise Shipping Limited, remains noteworthy.
In addition to Aritech and Marioff, the underlined segment is also benefiting from its other brands, such as Det-Tronics, Kidde, Edwards, Onity, Fireye, Supra and others.
Carrier’s BrokerBay buyout, which became part of its Supra offerings, is another positive.
We believe all these endeavors are likely to aid the performance of the fire and security segment, which has become an integral part of the company.
Notably, the segment generated of $905 million in revenues, which accounted for 17% of net sales.
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks ANET, Asure Software ASUR and Agilent Technologies A. While Arista Networks and Asure Software sport a Zacks Rank #1 (Strong Buy), Agilent Technologies carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 16.3% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 17.5%.
Asure Software has gained 26.6% in the year-to-date period. The long-term earnings growth rate for ASUR is currently projected at 23%.
Agilent Technologies has lost 6.7% in the year-to-date period. A’s long-term earnings growth rate is currently projected at 10%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
