Trane Technologies (NYSE:TT) Upgraded by Sanford C. Bernstein to “Strong-Buy” Rating

Trane Technologies (NYSE:TT) was upgraded by stock analysts at Sanford C. Bernstein to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Citigroup increased their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. KeyCorp increased their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Evercore initiated coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Royal Bank Of Canada increased their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Price Performance

Shares of TT opened at $449.96 on Tuesday. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm’s 50 day moving average price is $462.00 and its 200 day moving average price is $432.62. The company has a market cap of $99.47 billion, a P/E ratio of 34.80, a PEG ratio of 2.17 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the firm earned $2.45 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts forecast that Trane Technologies will post 14.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Institutional Trading of Trane Technologies

Large investors have recently bought and sold shares of the business. Wilkerson Advisory Group LLC increased its holdings in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Tucker Asset Management LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $25,000. JPL Wealth Management LLC purchased a new position in Trane Technologies during the 3rd quarter valued at about $32,000. Physician Wealth Advisors Inc. increased its holdings in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in Trane Technologies during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.