--- title: Trane Technologies (TT) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/tt ticker: TT as_of: 2026-10-17 sector: Industrials industry: Industrial - Machinery --- # Trane Technologies (TT) Trane Technologies (TT) closed at $458.89 on Oct 16, 2026, overvalued by 68% vs its model value of $273.30 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $458.89 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $273.30 | | Price vs model | overvalued by 68% vs model | | Range of that model | $188.76 – $504.93 | | Market value | $101.0B | | P/E (fiscal 2025) | 35.4 | | Net margin (fiscal 2025) | 13.7% | | Free cash flow (fiscal 2025) | $2.8B | | Dividend yield (trailing twelve months) | 0.89% | | Beta | 1.16 | | Cost of capital (WACC) | 9.42% | | Business classification | Mature & Stable (Low/slowing growth (~10% recent), Moderate margins (14% net margin), Highly cyclical earnings) | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 0.89% | | Dividends per share, last 12 months | $4.09 | | Dividends / free cash flow (fiscal 2025) | 29.8% | | Raised | 15 years in a row | | Growth over 5 years | 12.2% a year | | Latest payment | $1.05, ex-date Sep 4, 2026, paid Sep 30, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Sep 2, 2021 | $2.30 | | To Sep 1, 2022 | $2.60 | | To Aug 31, 2023 | $2.92 | | To Sep 6, 2024 | $3.27 | | To Sep 5, 2025 | $3.66 | | Trailing twelve months (to Sep 4, 2026) | $4.09 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $273.30 | $188.76 | $504.93 | | DCF · Perpetuity growth · 10y | cross check | $300.26 | $211.76 | $538.67 | | DCF · EBITDA exit · 5y | cross check | $625.33 | $502.52 | $768.23 | | DCF · EBITDA exit · 10y | cross check | $592.36 | $449.65 | $777.72 | | P/E · peers | cross check | $749.64 | $749.64 | $749.64 | | P/E · own history | cross check | $460.51 | $376.69 | $526.80 | | PEG | sanity check | $222.11 | $222.11 | $222.11 | | EV/EBITDA · peers | cross check | $555.29 | $555.29 | $555.29 | | EV/Revenue · peers | cross check | $396.02 | $396.02 | $396.02 | | Earnings power value | cross check | $89.93 | $75.84 | $109.36 | | Dividend discount | cross check | $86.10 | $60.48 | $135.27 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 3 open-market sales ($43.9M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 6, 2026 | Regnery David S | Chair and CEO | Option/RSU exercise (10b5-1 plan) | 48,091 | $0 | | Oct 6, 2026 | Regnery David S | Chair and CEO | Open-market sell (10b5-1 plan) | 48,091 | $23.1M | | Oct 6, 2026 | Regnery David S | Chair and CEO | Option/RSU exercise (10b5-1 plan) | 48,091 | $3.8M | | Aug 5, 2026 | Regnery David S | Chair and CEO | Option/RSU exercise (10b5-1 plan) | 43,778 | $3.1M | | Aug 5, 2026 | Regnery David S | Chair and CEO | Open-market sell (10b5-1 plan) | 43,778 | $20.8M | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Jul 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1466258/000162828026051117/tt-20260630.htm | | Jul 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1466258/000162828026050743/tt-20260730.htm | | Jul 22, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1466258/000162828026049227/tt-20260720.htm | | Jun 10, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1466258/000162828026042055/tt-20260604.htm | | Jun 5, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/1466258/000162828026041032/tt-20260604.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Bridgewater | 2026-06-30 | 4,989 | $2.5M | | Mairs & Power | 2026-06-30 | 1,004 | $493,125 | 2 tracked managers in all. ## About Trane Technologies plc designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps; chillers; coils and condensers; auxiliary power, cold storage, and condensing units; controls contracting and commissioning, decarbonization programs, and gensets; dehumidifiers; energy and water efficiency programs; energy recovery ventilators and power solutions; energy storage; furnaces; home automation; humidifiers; HVAC performance-monitoring products; and indoor air quality assessments and related products for HVAC and transport solutions. The company also provides asset management, building management, bus air purification, bus and rail HVAC, container refrigeration, control, ductless, geothermal, data center and m… --- Source: https://sweetvaluelab.com/stocks/tt (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.