The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Swords, Ireland-based Trane Technologies plc (TT) designs, manufactures, sells, and services industrial equipment. With a market cap of $99.1 billion, the company offers central heaters, air conditioners, electric vehicles, air cleaners, and fluid handling products.

Companies worth $10 billion or more are generally described as “large-cap stocks.” TT effortlessly fits that bill, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the building products & equipment industry. TT’s market success hinges on strong brand presence and innovation. Its Trane and Thermo King brands are synonymous with quality and reliability in HVAC and transport refrigeration, backed by ongoing R&D and patented technologies that address energy efficiency and sustainability.

Investors Bearish on Oracle Ahead of Earnings - Unusually Heavy ORCL Put Options Trading

Salesforce vs. ServiceNow: 1 AI Giant Is Leaving the Other Behind

Microsoft Stock Is Up Nearly 30% From Its March Lows, But You Shouldn’t Sell MSFT Just Yet

Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!

Despite its notable strength, TT slipped 8.8% from its 52-week high of $503.47, achieved on Apr. 30. Over the past three months, TT stock has declined 1.6%, underperforming the Nasdaq Composite’s ($NASX) 19.1% gains during the same time frame.

Shares of TT rose 17.9% on a YTD basis, outperforming NASX’s YTD gains of 16.6%. However, in the longer term, the stock climbed 6.6% over the past 52 weeks, underperforming NASX’s 40.8% returns over the same time frame.

To confirm the bullish trend, TT has been trading above its 50-day and 200-day moving averages since late January, experiencing some fluctuations.

On Apr. 30, TT shares closed up by 2.8% after reporting its Q1 results. Its net revenues stood at $5 billion, up 6% year over year. The company’s adjusted EPS increased 7.3% from the year-ago quarter to $2.63.

TT’s rival, Carrier Global Corporation (CARR) shares lagged behind the stock, with a 5.6% dip over the past 52 weeks, but outpaced the stock with a 25.7% uptick on a YTD basis.

Wall Street analysts are reasonably bullish on TT’s prospects. The stock has a consensus “Moderate Buy” rating from the 23 analysts covering it, and the mean price target of $522.67 suggests a potential upside of 13.9% from current price levels.

On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com