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Trane Technologies PLC Class A TT Stock Quote

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Morningstar‘s Stock Analysis TT

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Energy-Efficient HVAC Retrofits Should Be a Long-Term Growth Driver for Trane Technologies

Business Strategy and Outlook

| Brian Bernard, CFA, CPA |

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 has generally been more profitable and less cyclical.

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Company Profile TT

Business Description

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 $14 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.

170/175 Lakeview Drive, Airside Business Park
Dublin, Ireland
T +353 18707400
Industry Building Products & Equipment
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 37,000

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