Selected Reads

Smartkarma

Equity Bottom-Up

<p><em>This is Matt Reustle. Today we venture into the world of HVAC to break down Trane Technologies. Now, it's not often that I come across an industrial company with a $50 billion market cap that I just hadn't heard of. So when our guest today, Brett Larson, investor at NZS Capital, suggested Trane, it was as easy of a 'yes' as they come. Brett and I cover the long corporate history of Trane, the dynamics that separate residential HVAC from commercial HVAC, and how Trane has helped create this</em>…</p>

Morningstar

Morningstar, Inc.

Narrow-moat rated Ingersoll Rand announced both its first-quarter results and the pending combination of its industrial segment with publicly traded Gardner Denver. The latter announcement confirms an earlier report by The Wall Street Journal, which we discussed in our April 29 analyst note
Ingersoll Rand’s industrial segment ($3.3 billion sales and $534 million adjusted EBITDA in 2018) will be spun-off tax-free to shareholders and will then immediately merge with Gardner Denver. This newly…

Ingersoll Rand’s stock opened the April 29 trading day up 5% following a Wall Street Journal report that claimed a merger between Ingersoll Rand’s industrial segment and Gardner Denver is imminent. Per the report, Ingersoll Rand shareholders will receive a mix of cash and Gardner Denver stock, and a Reverse Morris Trust structure will allow Ingersoll Rand to avoid taxes on the divestiture
Sources told The Wall Street Journal that the combined business will have an enterprise value of…

United States

Trane Technologies Public Limited Company manufactures industrial equipment. The Company offers central heaters, air conditioners, electric vehicles, air cleaners, and fluid handling products. Trane Technologies serves customers worldwide.

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