5 American Manufacturing Stocks to Buy Now

4. Carrier Global Corporation (NYSE:CARR)

Number of Hedge Fund Holders: 41 

Carrier Global Corporation (NYSE:CARR) provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. The company is one of the most prominent American manufacturing stocks to buy now. On July 28, the company posted earnings for the second quarter of 2022, reporting earnings per share of $0.69, beating market estimates by $0.07. The revenue over the period was $5.2 billion. On July 18, Mizuho analyst Brett Linzey maintained a Neutral rating on Carrier Global Corporation (NYSE:CARR) stock and lowered the price target to $38 from $45.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Carrier Global Corporation (NYSE:CARR), with 6.67 million shares worth more than $238 million. 

In its Q3 2021 investor letter, Davis Funds, an asset management firm, highlighted a few stocks and Carrier Global Corporation (NYSE:CARR) was one of them. Here is what the fund said:

“In the industrial space, we own a select list of well-entrenched market leaders, such as Carrier Global Corporation (NYSE:CARR), 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.”