Trane Technologies Plc TT
Resilient financials and liquidity as well as sustained bookings in the Americas highlighted the positives of Trane Technologies Plc's (TT) earnings that also saw the suspension of guidance and impacted operations due to the Coronavirus pandemic. Bookings were primarily hit in the EMEA and Asia Pacific regions, and the management has opted to not pursue share repurchases in order to conserve its liquidity going forward. We believe TT will see increased traction once the global lockdown eases.
07 May 2020
To take advantage of the market's recent movements, we're adding to our position in Trane Technologies Plc (TT). Our fundamentals remain intact for this company, and the market conditions allow for a lower increase level.
24 March 2020
The ongoing situation with COVID-19 (coronavirus) has impacted the markets and caused a broad sell-off, including on many of our Model Portfolio names. We have reevaluated each stock in the MP with regard to how the outbreak impacts our expectations and target prices, and provide those updates inside.
16 March 2020
To take advantage of the market's recent movements, we're adding to our positions in Trane Technologies Plc (TT), Ingersoll Rand, Inc. (IR) and United Technologies Corp. (UTX). Our fundamentals remain intact for these companies, and the market conditions allow for lower increase levels.
12 March 2020
Yesterday (March 2) was the first day of separated trading for Trane Technologies Plc (TT, formerly IR) and the now Spin-merged Ingersoll Rand, Inc. (IR, formerly GDI) following their Reverse Morris Trust on February 29. Despite the two entities closing the day relatively flat, the fundamentals remain intact with significant potential upside in both companies. TT is now a strong pure-play climate control leader and IR will see approximately 6.7% net buying on inclusion in the S&P 500 Index.
03 March 2020
Both Trane Technologies Plc (TT) and Ingersoll-Rand (IR) have begun their first day of trading today post its Reverse Morris Trust. With the new IR up +4% and entering the S&P 500 tomorrow leading to index buying from focused funds, we continue to see upside at current levels. For more on this break-up and an upcoming asset management Spinoff, please click here.
02 March 2020
After trading starts Tuesday, the Spin-merged Ingersoll Rand, Inc. (IR) will see about 6.7% (27.5m shares) of net buying as index focused funds enter the stock on its inclusion in the S&P 500 Index, based on our analysis and a new press release confirming the news. According to the release, the new IR will enter the S&P 500 Index pre-market on Tuesday, March 3. The current IR (parent) will take the new name Trane Technologies Plc (TT), and remain in the S&P 500. Click in for our analysis.
28 February 2020
The first break-up out of 38 Spins on the global calendar for 2020 will be taking place this week. Having created a successful Spinoff back in Dec 2013 as well as the potential inclusion of the SpinCo into the S&P 500 to create index buying, we’ll be monitoring the RMT of Ingersoll-Rand (IR) and Gardner Denver (GDI) as it trades in the when-issued market for any opportunities. For more on IAC, UTX and WOW, click here.
24 February 2020
In-line with the previous successful Spinoff of its commercial and residential security business Allegion Plc (ALLE, which has more than doubled its share price since listing), Ingersoll-Rand Plc (IR) is prepared for its Reverse Morris Trust (RMT) transaction of its Industrials business to be merged with listed Gardner Denver Holdings, Inc. (GDI), which will become a global leader in mission-critical flow creation and industrial technologies. Click in for more on this upcoming RMT.
20 February 2020
In our Idea Generator, we explore this week’s privatization of France’s lottery, Francaise des Jeux (FDJ), as well as Bed Bath & Beyond’s (BBBY) new CEO effectively taking his position this week and what that could mean going forward. Our full analysis will be out on both these names this week. Likewise, we continue to see upside in Ingersoll-Rand (IR) and Associated British Foods (ABF), both jumping on their recent earnings. Click here for more.
05 November 2019