Trane Technologies (NYSE:TT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Trane Technologies (NYSE:TT) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

TT has been the subject of a number of other reports. The Goldman Sachs Group raised Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $548.00 to $565.00 in a report on Wednesday, October 14th. Wells Fargo & Company assumed coverage on Trane Technologies in a research note on Friday, September 25th. They issued an “overweight” rating and a $536.00 price target on the stock. Evercore upped their price target on Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $500.00 price objective on shares of Trane Technologies in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $535.89.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $412.70 on Friday. The firm has a market cap of $90.80 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The firm’s 50-day simple moving average is $449.76 and its 200-day simple moving average is $454.10. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.12. The firm had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.50 billion. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.88 earnings per share. As a group, research analysts expect that Trane Technologies will post 15.28 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s payout ratio is currently 29.66%.

Insider Activity at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Trane Technologies by 76.1% during the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,004 shares of the company’s stock worth $454,000 after acquiring an additional 434 shares during the period. Alta Advisers Ltd raised its position in Trane Technologies by 77.2% during the third quarter. Alta Advisers Ltd now owns 1,558 shares of the company’s stock valued at $704,000 after purchasing an additional 679 shares in the last quarter. Principle Wealth Partners LLC raised its position in Trane Technologies by 64.3% during the third quarter. Principle Wealth Partners LLC now owns 1,709 shares of the company’s stock valued at $773,000 after purchasing an additional 669 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Trane Technologies by 5.9% during the third quarter. Kestra Advisory Services LLC now owns 27,280 shares of the company’s stock worth $12,330,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Claro Advisors Inc. lifted its stake in Trane Technologies by 9.6% during the third quarter. Claro Advisors Inc. now owns 1,354 shares of the company’s stock worth $612,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.