The Company is a provider of climate control, industrial, compact vehicle, construction and security products. Offers a diverse product portfolio that includes well-recognized industrial and commercial brands.
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A well run company with a stable of well respected brand names. They have managed to do well in trying times and should lead the pack as business picks up, however slowly.
IR has gutted the engineering behind Trane, and their cold chain in general. Long time Trane employees are leaving in droves (ask any HVAC recruiter in the southeast). IR is trying to “innovate” their way forward, but every major project they are doing on the “cold chain side” is significantly behind schedule, and over budget. This is because deadlines and costs were determined up front by the business side instead of the engineering side. They bought Hussmann for $1.5B, they are now trying to sell it for about $900M. This is because the warranty issues are causing them to lose money on every sale, and their “innovative new product line” has been rejected by the market place because of low efficiency. Now with Hussmann for sale, their”complete cold chain” will no longer exist”. Clubcar and Industrial tools are doing well; nothing on the cold side is doing well. Residential will lose over $100M this year; ThermoKing has no engineering behind it, and resents the fact that Trane has been called in to redesign their products (this is causing unwarranted delays of many months). Commercial has lowered their standards to save money, giving short term gain, and long term warranty costs. IR stock will probably go up in the short term, but in 18 to 24 months this is not a stock you want to own.
Thank you for your input Kcearnest. You will be happy to know that I don't actually own any IR, it is just a CAPS pick I made. You seem to have a lot of insight into the specifics of the business. I rechecked the experts, financial writers and analysts, and they don't seem to agree with you about IR's future. They've been wrong before. Unlike you, who seem to have no history at all picking stocks. None that I have access to anyway, your CAPS history is blank. Where do you get your info? Why should I listen to you and ignore those who make a living analyzing stocks? I will keep what you say in mind as I watch IR, I wasn't planning an actual investment anyway. So this will be an interesting test.
I worked for them for many years, and still have many contacts in several divisions. You don't see as having any history because I don't give stock advice, I let people who know a lot more about than I do cover that. I am just relaying information. I could be wrong about what the stock price will do, but I don't think so. Short term I think it will go up, but longer term I think they are doing the things that are going to cause them a loss of market share in several divisions. I also am walking the walk; I have sold all my IR stock over the last 6 months, and reinvested it in SA recommendations.