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 report issued on Saturday.

Several other research analysts have also recently weighed in on the stock. Barclays upped their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Citigroup decreased their target price on shares of Trane Technologies from $570.00 to $566.00 and set a “buy” rating for the company in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Sanford C. Bernstein set a $555.00 target price on shares of Trane Technologies in a report on Thursday, July 9th. Finally, BNP Paribas Exane began coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $520.07.

Trane Technologies Stock Up 1.6%

NYSE:TT opened at $462.41 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Trane Technologies has a 12-month low of $348.06 and a 12-month high of $505.87. The firm has a market capitalization of $101.74 billion, a P/E ratio of 35.03, a P/E/G ratio of 2.04 and a beta of 1.19. The stock’s fifty day simple moving average is $471.16 and its 200-day simple moving average is $453.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.Trane Technologies’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Equities research analysts expect that Trane Technologies will post 15.26 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.82%.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after buying an additional 2,917 shares during the last quarter. ProCore Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at about $939,000. Dara Capital US Inc. purchased a new stake in Trane Technologies in the 4th quarter worth approximately $966,000. Horizon Investments LLC raised its position in shares of Trane Technologies by 115.4% in the fourth quarter. Horizon Investments LLC now owns 30,560 shares of the company’s stock worth $11,894,000 after buying an additional 16,370 shares in the last quarter. Finally, LBP AM SA raised its holdings in shares of Trane Technologies by 153.0% in the 4th quarter. LBP AM SA now owns 54,112 shares of the company’s stock valued at $21,060,000 after acquiring an additional 32,724 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Trane Technologies

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.