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Headquartered in Swords, Ireland, Trane Technologies plc (TT) is a global climate innovator, delivering sustainable HVAC solutions for commercial and residential buildings. The company also provides Thermo King transport refrigeration systems, supporting temperature-controlled logistics for perishable goods.
With a market capitalization of approximately $93.1 billion, Trane Technologies sits firmly within the “large-cap” bracket, reserved for companies valued above $10 billion.
TT shares currently trade about 11.9% below their July high of $476.18. However, over the past three months, the stock has slipped nearly 1.5%, a milder pullback compared with the SPDR S&P Homebuilders ETF (XHB), which declined 5% in the same period.
The longer-term performance remains more encouraging. Over the past 52 weeks, TT posted a marginal gain, while XHB dropped 11.1%. Meanwhile, on a year-to-date (YTD) basis, TT stock has advanced 13.6%, outpacing XHB’s 4.5% rise.
The stock has been trading slightly below its 50-day moving average since this month, signaling short-term softness. However, it has held above its 200-day moving average since late April, aside from a brief dip, indicating that the broader uptrend remains intact.
TT stock strengthened further on Oct. 30 when its shares rose 4.4% intraday after the company reported Q3 2025 earnings. Adjusted EPS came in at $3.88, a 15.1% increase compared to the same period a year ago, surpassing analyst forecasts of $3.78. It was supported by operating margin expansion to 20.3% from 18.8% in the prior year’s period.
Revenue grew 5.6% annually to $5.74 billion, coming in just below the $5.79 billion consensus. However, the slight miss did little to unsettle investors, as management reaffirmed its full-year outlook. The company continues to project roughly 7% revenue growth for fiscal year 2025 and expects adjusted continuing EPS of $12.95 to $13.05.
Relative performance further strengthens the case. TT’s competitor, AAON, Inc. (AAON), remains sharply lower, down 33.6% over the past 52 weeks and 20.8% YTD, highlighting TT’s stronger execution through a softer industry backdrop.
Analysts remain constructive on TT’s outlook. Among 21 covering the stock, the consensus rating stands at “Moderate Buy,” and the average price target of $481.65 reflects a 14.8% premium to current levels.
