Trane Technologies plc (NYSE:TT) is one of the best manufacturing stocks to invest in now. On February 18, 2026, Trane Technologies plc (NYSE:TT) announced it had completed the acquisition of Stellar Energy Americas, a provider of modular data center cooling solutions. The deal, first revealed on December 2, 2025, strengthens Trane’s position in thermal management for data centers. Trane Technologies (TT) Powers Growth with Data Center Cooling At Citi’s Global Industrial Tech & Mobility Conference on the ...

Core Insights - Carrier Global Corporation (CARR) has a market capitalization of $51.5 billion and operates as a global provider of intelligent climate and energy solutions, with a focus on HVAC and Refrigeration segments [1] Stock Performance - Over the past 52 weeks, CARR stock has declined by 3.1%, underperforming the S&P 500 Index, which has increased by 15.4%. However, year-to-date, CARR shares are up 15.8%, surpassing the S&P 500's 1.1% rise [2] - CARR has also underperformed compared to the State Street Industrial Select Sector SPDR ETF (XLI), which has returned 23.3% over the same period [3] Financial Performance - Following the release of its Q3 2025 results on October 28, CARR shares saw a slight increase. The company reported $341 million in operating cash flow and $224 million in free cash flow for the quarter, with guidance for approximately $22 billion in full-year 2025 sales and adjusted EPS of about $2.65 [5] - Analysts project CARR's adjusted EPS to grow nearly 2% year-over-year to $2.61 for the fiscal year ending December 2025. The company has a strong earnings surprise history, having exceeded consensus estimates in the last four quarters [6] Analyst Ratings - Among the 23 analysts covering CARR, the consensus rating is a "Moderate Buy," consisting of 11 "Strong Buy" ratings, one "Moderate Buy," and 11 "Holds" [6] - The sentiment has slightly shifted from three months ago, with 12 "Strong Buy" ratings currently [8]

Company Overview - Carrier Global Corporation (CARR) was founded in 2019 and specializes in advanced heating, ventilation, refrigeration, air conditioning, fire, security, and building automation technologies globally. The company has a market capitalization of $47.4 billion and operates through the HVAC and Refrigeration segments [1]. Earnings Expectations - Carrier Global is expected to release its Q4 2025 earnings soon, with analysts anticipating a profit of $0.39 per share, which represents a decline of 27.8% from $0.54 per share in the same quarter last year. The company has exceeded Wall Street's earnings expectations in each of the past four quarters [2]. - For fiscal 2025, analysts expect CARR to report an EPS of $2.64, reflecting a nearly 3.1% increase from $2.56 in fiscal 2024. EPS is projected to grow 9.5% year over year to $2.89 in fiscal 2026 [3]. Stock Performance - CARR stock has declined by 16.7% over the past 52 weeks, underperforming the S&P 500 Index, which rose by 19.7%, and the State Street Industrial Select Sector SPDR ETF, which returned 24.2% during the same period [4]. Dividend Announcement - On December 3, CARR stock rose by 1.5% following the announcement of a $0.24 per-share quarterly dividend, which represents a 200% increase since early 2020. This reflects the company's disciplined approach to capital allocation and commitment to shareholder value. The dividend is set to be payable on February 9 [5]. Analyst Ratings - Analysts maintain a cautiously optimistic consensus opinion on CARR, with a "Moderate Buy" rating overall. Among 23 analysts, 11 recommend a "Strong Buy," one a "Moderate Buy," and 11 suggest a "Hold." The average analyst price target for CARR is $72.05, indicating a potential upside of 30.1% from current levels [6].

Company Overview - Trane Technologies plc (TT) is a global climate innovator and industrial technology company with a market cap of $92.2 billion, specializing in HVAC and refrigeration solutions for various applications [1] - The company is headquartered in Swords, Ireland, and operates under leading brands such as Trane and Thermo King, with a corporate lineage dating back to the 19th century [1] Earnings Expectations - Analysts expect TT to report a profit of $2.82 per share on a diluted basis for the fiscal fourth quarter, representing an 8.1% increase from $2.61 per share in the same quarter last year [2] - For the current fiscal year, analysts project TT's EPS to be $13.02, up 16% from $11.22 in fiscal 2024, with further growth expected to $14.80 in fiscal 2026, a year-over-year increase of 13.7% [3] Stock Performance - Over the past year, TT shares have increased by 5%, which is lower than the S&P 500 Index's 16.4% gains and the Industrial Select Sector SPDR Fund's 17.6% gains during the same period [4] Recent Acquisition - On December 2, Trane Technologies announced an agreement to acquire the Digital business of Stellar Energy International, enhancing its position in the data center thermal management market [5] - The acquisition includes Stellar Energy's digital operations, two assembly facilities, and a workforce of approximately 700 employees, which will strengthen Trane's modular design and engineering capabilities [5] Analyst Ratings - The consensus opinion on TT stock is moderately bullish, with a "Moderate Buy" rating overall; out of 22 analysts, eight recommend a "Strong Buy," 13 suggest a "Hold," and one advises a "Strong Sell" [6] - The average analyst price target for TT is $478.16, indicating a potential upside of 22.9% from current levels [6]

Group 1: Company Performance - Bristol Gate Capital Partners' US Equity Strategy underperformed the S&P 500® Total Return Index in Q3 2025, primarily due to limited exposure to the AI/TMT and Value sectors, which benefited from the Federal Reserve's rate cut [1] - The portfolio achieved a 15% dividend growth over the trailing 12 months, supported by strong underlying fundamentals [1] Group 2: Carrier Global Corporation (NYSE:CARR) - Carrier Global Corporation's stock experienced a one-month return of -0.72% and a 52-week decline of 21.73%, closing at $53.43 per share with a market capitalization of $45.47 billion on December 30, 2025 [2] - Despite quarterly results meeting or exceeding consensus estimates, Carrier's stock fell due to concerns over weak US residential HVAC orders and negative product mix affecting margins [3] - CEO David Gitlin indicated a lower Q3 volume forecast at a Morgan Stanley industry conference, citing a nearly 30% reduction in industry volumes for July and similar declines projected for August and September, with high interest rates and dealer destocking as primary headwinds [3] Group 3: Hedge Fund Interest - Carrier Global Corporation was held by 48 hedge fund portfolios at the end of Q3 2025, a decrease from 53 in the previous quarter, indicating reduced interest among hedge funds [4] - While acknowledging Carrier's potential, the analysis suggests that certain AI stocks may offer greater upside potential and lower downside risk [4]

Core Insights - Impax Asset Management's "Impax Global Environmental Markets Fund" reported a 4.55% return in Q3 2025, underperforming the MSCI ACWI index which returned 7.62% [1] Group 1: Market Performance - Global equities experienced strong gains in Q3 2025 due to solid macroeconomic conditions, rising corporate earnings, fiscal stimulus, and banking deregulation [1] - The focus on hypergrowth, cyclical, and value stocks has led to challenges for quality-focused investors, resulting in increased market concentration [1] Group 2: Carrier Global Corporation (NYSE:CARR) - Carrier Global Corporation, a provider of intelligent climate and energy solutions, saw a one-month return of -1.58% and a 52-week loss of 22.97%, closing at $53.50 per share with a market capitalization of $45.53 billion on December 24, 2025 [2] - Weaker US residential HVAC volumes led to a material guidance cut for Carrier Global Corporation, resulting in a sell-off in Q3 [3] - Despite a softer demand outlook, the company is viewed as attractively priced and positioned to benefit from improved end-market demand nearing cyclical lows [3] Group 3: Hedge Fund Interest - Carrier Global Corporation was held by 48 hedge fund portfolios at the end of Q3 2025, a decrease from 53 in the previous quarter [4] - The potential of Carrier Global Corporation as an investment is acknowledged, but certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Carrier Global FY Conference Summary Company Overview - **Company**: Carrier Global (NYSE:CARR) - **Industry**: HVAC (Heating, Ventilation, and Air Conditioning) and Transportation Refrigeration Equipment - **Event**: FY Conference held on November 12, 2025 Key Points and Arguments Company Strategy and Market Position - Carrier has established a focused and balanced portfolio aimed at sustained growth through leadership in products, aftermarket, and systems [4][5] - The company is a market leader in residential and commercial HVAC, with significant investments made post-spin to enhance product offerings and market share [5][6] - Carrier's data center revenues are projected to double to $1 billion this year, with a backlog extending into 2028, indicating strong future growth potential [6][10] Residential Business Insights - The residential HVAC market in the U.S. is estimated to have about 130 million installed units, with a historical replacement rate of approximately 6% annually [7][8] - Current estimates suggest a decline in replacement rates to about 7.5 million units for the year, with expectations of gradual recovery to historical norms over the next few years [9][10] - The company is focused on reducing field inventories by 30% to mitigate destocking headwinds, achieving a reduction of over 25% as of October [11][12] Market Dynamics and Challenges - Factors affecting the residential market include high interest rates, low existing home sales, and consumer reluctance to replace HVAC systems [20][21] - The company acknowledges that excess stocking levels from the previous year have contributed to current market challenges [19][20] - The residential replacement market is primarily driven by break-fix scenarios, with pent-up demand expected as consumers transition to new refrigerants [24][25] Pricing and Margin Outlook - Carrier's pricing environment remains robust, with overall pricing up double digits year-over-year, and plans for mid-single-digit price increases in residential HVAC for the next year [26][28] - The company anticipates carryover cost savings of at least $100 million next year, contributing positively to margins [29][42] Growth Projections - Carrier maintains a medium-term organic growth target of 6%-8%, supported by market share gains and product differentiation strategies [30][31] - The commercial HVAC segment is expected to grow significantly, particularly in data centers, which are projected to see a 20%-25% increase in activity next year [36][35] Capital Allocation and Share Repurchase - The company plans to focus on share repurchases, with an expected $3 billion allocated for this purpose in the current year, alongside funding for organic growth and dividends [43][45] - Carrier is not currently pursuing large-scale acquisitions, emphasizing a focus on execution and customer service [45] Additional Important Insights - The company is leveraging technology and data analytics to enhance forecasting and operational efficiency [21][22] - There is a strong emphasis on aftermarket growth through improved parts capture, service attachment, and modifications/upgrades [40][41] - Carrier's commitment to cost reduction while investing in growth positions it well for future recovery and market leadership [12][45]

Core Insights - Carillon Tower Advisers released its third-quarter 2025 investor letter for the Carillon Eagle Growth & Income Fund, highlighting the S&P 500 Index's year-to-date return of 13.7% and emphasizing the reliance on AI deployment as a key market driver [1] - The fund's top holdings include Carrier Global Corporation, which has shown a one-month return of -0.42% and a 52-week gain of 25.43% [2] - Carrier Global Corporation's stock underperformed in the third quarter due to lowered guidance in its residential HVAC segment, reflecting softer demand trends and dealer destocking [3] Company Performance - Carrier Global Corporation reported sales of $5.6 billion in the third quarter of 2025, with a market capitalization of $47.981 billion as of November 11, 2025 [4] - The company's stock closed at $56.97 per share, indicating a significant increase over the past year despite recent underperformance [2][4] - The company is not among the top 30 most popular stocks among hedge funds, with 53 hedge fund portfolios holding its shares at the end of the second quarter [4] Market Context - The current market performance is heavily influenced by growth and momentum, particularly in AI-related stocks, which poses a risk if the AI deployment narrative weakens [1] - The reset in Carrier's residential HVAC guidance has overshadowed stable results in its commercial HVAC and aftermarket segments, raising concerns about near-term earnings [3] - There is a belief that certain AI stocks may offer greater upside potential compared to Carrier Global Corporation, suggesting a shift in investment focus [4]

Core Insights - Carrier Global Corporation (CARR) is a leading provider of HVAC, refrigeration, and energy-efficient climate solutions with a market cap of $50.8 billion, headquartered in Palm Beach Gardens, Florida, and operating in approximately 160 countries [1] Financial Performance - CARR is expected to report a profit of $0.67 per share for fiscal 2025 Q3, reflecting a 19.3% decrease from $0.83 per share in the same quarter last year [2] - For fiscal 2025, analysts project a profit of $2.86, which is an 11.7% increase from $2.56 in fiscal 2024, with EPS anticipated to grow 17.1% year over year to $3.35 in fiscal 2026 [3] Stock Performance - CARR stock has declined by 26% over the past 52 weeks, underperforming the Industrial Select Sector SPDR Fund's 14.5% increase and the S&P 500 Index's 17.2% rise during the same period [4] - Following the release of its fiscal 2025 Q2 earnings, CARR shares fell nearly 11% despite revenue growth of 3% year over year to $6.1 billion and adjusted EPS rising 26% to $0.92, as investors were concerned about demand weakness and margin pressures [5] Analyst Ratings - Wall Street analysts maintain a "Moderate Buy" rating for CARR, with 13 out of 24 analysts recommending "Strong Buy," one suggesting "Moderate Buy," and ten advising a "Hold" [6] - The average analyst price target for CARR is $78.81, indicating a potential upside of 31.8% from current levels [6]