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Trane Technologies PLC Class A TT

Morningstar Rating
$330.14 −0.23 (0.07%)
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Company Report

Trane Technologies Continues to Benefit From Strong Commercial HVAC Demand

In early 2020, Ingersoll Rand spun off its industrial segment, which immediately merged with Gardner Denver. This new entity assumed the Ingersoll Rand name and stock ticker. Legacy Ingersoll Rand's climate segment was renamed Trane Technologies. We had long viewed legacy Ingersoll Rand's climate business as more attractive than its industrial segment because the former was consistently more profitable and less cyclical.

Price vs Fair Value

TT is trading at a 653% premium.
Price
$330.14
Fair Value
$729.00
Uncertainty
Medium
1-Star Price
$729.49
5-Star Price
$813.30
Economic Moat
Mgxfdb
Capital Allocation
Cwhtfhqr

Bulls Say, Bears Say

Bulls

Trane should benefit from secular trends in global urbanization and increased demand for energy-efficient building solutions.

Bears

The residential HVAC business has benefited from a strong replacement cycle related to the last housing boom, but after surging demand during the pandemic, replacement spending has softened.

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News

Trading Information

Previous Close Price
$330.37
Day Range
$329.71334.22
52-Week Range
$184.02347.33
Bid/Ask
$321.87 / $354.64
Market Cap
$74.73 Bil
Volume/Avg
1.4 Mil / 1.2 Mil

Key Statistics

Price/Earnings (Normalized)
34.48
Price/Sales
4.17
Dividend Yield (Trailing)
0.96%
Dividend Yield (Forward)
1.02%
Total Yield
1.86%

Company Profile

Trane Technologies manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its prominent Trane, American Standard, and Thermo King brands. The $18 billion company generates approximately 70% of sales from equipment and 30% from parts and services. While the firm is domiciled in Ireland, North America accounts for over 70% of its revenue.
Sector
Industrials
Industry
Building Products & Equipment
Stock Style Box
Large Growth
Total Number of Employees
40,000

Competitors

Valuation

Metric
TT
JCI
CARR
Price/Earnings (Normalized)
34.4820.2223.40
Price/Book Value
10.862.975.16
Price/Sales
4.171.762.50
Price/Cash Flow
28.6521.9426.70
Price/Earnings
TT
JCI
CARR

Financial Strength

Metric
TT
JCI
CARR
Quick Ratio
0.620.550.55
Current Ratio
1.130.871.36
Interest Coverage
12.554.744.76
Quick Ratio
TT
JCI
CARR

Profitability

Metric
TT
JCI
CARR
Return on Assets (Normalized)
11.89%5.35%8.02%
Return on Equity (Normalized)
34.17%14.23%27.54%
Return on Invested Capital (Normalized)
21.14%9.47%12.64%
Return on Assets
TT
JCI
CARR
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