Trane Technologies (NYSE:TT) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Trane Technologies (NYSE:TT) from a neutral rating to a buy rating in a research report released on Thursday morning, Marketbeat reports. The firm currently has $550.00 target price on the stock, up from their previous target price of $490.00.

Other equities analysts also recently issued research reports about the company. Robert W. Baird upped their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Citigroup lifted their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $472.07.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $3.75 during mid-day trading on Thursday, reaching $418.60. 1,508,445 shares of the company’s stock were exchanged, compared to its average volume of 1,419,018. The firm has a 50-day moving average price of $419.70 and a two-hundred day moving average price of $424.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The firm has a market capitalization of $92.82 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $476.18.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Analysts predict that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 28.92%.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Financial Consulate Inc. bought a new stake in Trane Technologies in the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. purchased a new position in shares of Trane Technologies in the second quarter worth $26,000. Ameriflex Group Inc. bought a new stake in Trane Technologies during the 2nd quarter valued at $28,000. Hantz Financial Services Inc. boosted its position in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the period. Finally, Saudi Central Bank bought a new stake in Trane Technologies in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.