Trane Technologies (TT)
Builds HVAC, building-control, and transport-refrigeration systems under Trane and Thermo King.
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Sells commercial and residential HVAC systems, building controls, energy services, and transport refrigeration under Trane and Thermo King, with equipment revenue supplemented by installation, parts, rentals, and service agreements. The Americas account for most business, while recent acquisitions broaden data-center cooling and building automation.
Designs, manufactures, sells, and services climate-control systems for buildings, homes, and temperature-controlled transport. The Trane portfolio spans commercial and residential HVAC, chillers, heat pumps, building controls, energy services, and data-center thermal management; Thermo King supplies refrigeration and auxiliary power systems for trucks, trailers, railcars, and marine containers.
Pairs equipment sales with installation, service agreements, rentals, aftermarket parts, retrofits, and connected controls, creating recurring work across a large installed base. Portfolio additions including BrainBox AI, Stellar Energy, and LiquidStack add automation and data-center cooling capabilities.
Operates through Americas, EMEA, and Asia Pacific segments, with the Americas producing most revenue. Demand varies with weather, while refrigerant and energy-efficiency rules influence product development; manufacturing depends on steel, copper, aluminum, and sourced components.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 28, 2026 | Jefferies | Upgrade | ||
| Aug 27, 2026 | Macquarie | Initiate | Rating: — | |
| Aug 18, 2026 | Morgan Stanley | Initiate | Rating: — | |
| Aug 13, 2026 | HSBC | Upgrade | ||
| Jul 27, 2026 | UBS | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.32B · Total debt $4.62B · Total assets $23.93B · Shareholders' equity $8.65B
- Revenue
- $6.35B
- Operating income
- $1.22B
- Net income
- $925.7M
HistoryDividendAnnual yield
| Institutions | 88.55% | 194.83M shares | |
|---|---|---|---|
| 1,869 holders · as of Jun 30, 2026 | |||
| Insiders | 0.21% | 467.1K shares | |
| 22 holders · as of Aug 6, 2026 | |||
| Other | 11.24% | 24.73M shares | |
| remainder | |||
220.02M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.94% | 21.88M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.56% | 14.44M | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 5.71% | 12.56M | as of Jun 30, 2026 |
FMR LLCInstitution | 4.58% | 10.09M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.58% | 10.08M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 5, 2026 | David S. Regnery | director, officer: Chair and CEO | −43,778 | $475.00 |
| Aug 4, 2026 | Melissa N. Schaeffer | director | −145 | $472.27 |
| Mar 5, 2026 | John A. Hayes | director | +400 | $430.44 |
| Apr 30, 2026 | Donald E. Simmons | officer: Group President, Americas | −4,593 | $500.00 |
| Apr 8, 2026 | Christopher J. Kuehn | officer: Executive Vice President & CFO | −8,619 | $450.00 |
- Carrier Global
Only peer across commercial HVAC, residential HVAC, and transport refrigeration.
- Johnson Controls
Commercial HVAC (York) and building automation (Metasys) in direct contest.
- Lennox International
US residential and light-commercial HVAC rival in the domestic market.
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Trane Technologies | $437.82 | +0.05% | $95.34B | 32.9 | 26.5 | 4.3 | +10.6% |
| Carrier Global | $55.61 | +0.65% | $45.02B | 37.9 | 17.8 | 2.0 | +3.9% |
| Johnson Controls | $146.44 | −0.01% | $87.94B | 25.3 | 25.1 | 3.5 | +9.3% |
| Lennox International | $371.68 | −0.02% | $12.57B | 16.5 | 15.0 | 2.4 | +3.0% |
| Median | 25.3 | 17.8 | 2.4 | +3.9% |