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SWORDS, Ireland--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), a global climate innovator, announced that it has completed the acquisition of BrainBox AI, a pioneer in autonomous HVAC controls and generative Artificial Intelligence (AI) building technology. The acquisition was previously announced in a press release on December 18, 2024. BrainBox AI uses advanced deep learning algorithms to predict building energy needs and automate HVAC systems, thus reducing energy consumption by up to 25%.
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
SWORDS, Ireland--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), a global climate innovator, today announced a commitment to reduce embodied carbon by 40% by 2030, an industry first. Building on its leadership in sourcing more sustainable solutions like low-carbon steel, Trane Technologies will focus its efforts on partnering with suppliers of materials used in buildings and building equipment including steel, aluminum, copper and refrigerants, while continuing to incorporate circular design cr.
TT's applied solutions offer higher service margins, and its new energy-efficient products boost demand and drive the gross margin.
Trane Technologies' stock has surged over 14% since March 2024, driven by strong commercial HVAC growth and a robust backlog of $7.5 billion. The company reported 19% growth in orders and 13% revenue growth, raising guidance for FY24 and projecting a 12% annual revenue growth. Anticipated interest rate cuts in 2025 could boost Trane's new residential business, further supporting the 'Strong Buy' rating with a $380 price target.
Trane Technologies (TT) reported earnings 30 days ago. What's next for the stock?
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Trane Technologies (TT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).