2024-02-09 00:41:58 ET
Summary
- Trane Technologies in its present form was the result of a 2020 restructuring to focus on the HVAC operations. This has led to double-digit returns and growth.
- The company is fundamentally sound with improving operating efficiencies and is financially strong.
- TT stock is not trading at a fair price, lacking a margin of safety in valuation.
Investment Thesis
The present form of Trane Technologies plc ( TT ) came from its 2020 restructuring. At that juncture, the company divested its Industrial segment to focus on the heating, ventilation, air-conditioning, and related operations.
This restructuring was the right move as the company delivered double-digit returns and growth since then. The company is financially sound with improving operating efficiencies....
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Trane Technologies: Fundamentally Sound But Without Any Margin Of Safety