Trane Technologies (NYSE:TT) Earns Buy Rating from Analysts at UBS Group

UBS Group began coverage on shares of Trane Technologies (NYSE:TT) in a research report released on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $500.00 price target on the stock.

A number of other equities research analysts have also weighed in on TT. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $389.77.

Trane Technologies Price Performance

TT stock opened at $407.60 on Wednesday. The firm has a market cap of $91.72 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies has a 1 year low of $221.22 and a 1 year high of $421.78. The stock has a 50-day simple moving average of $388.09 and a 200-day simple moving average of $352.80.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. During the same quarter last year, the company earned $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is currently 31.17%.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. Avantax Advisory Services Inc. lifted its holdings in shares of Trane Technologies by 5.6% during the first quarter. Avantax Advisory Services Inc. now owns 7,748 shares of the company’s stock valued at $2,326,000 after purchasing an additional 414 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Trane Technologies by 3.9% during the first quarter. Bleakley Financial Group LLC now owns 3,716 shares of the company’s stock valued at $1,116,000 after buying an additional 139 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Trane Technologies by 36.9% in the first quarter. Kingsview Wealth Management LLC now owns 3,875 shares of the company’s stock worth $1,163,000 after buying an additional 1,045 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Trane Technologies by 84.6% in the first quarter. Lord Abbett & CO. LLC now owns 184,618 shares of the company’s stock worth $55,422,000 after acquiring an additional 84,618 shares in the last quarter. Finally, Wilkins Investment Counsel Inc. purchased a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $225,000. 82.97% of the stock is owned by institutional investors and hedge funds.

About Trane Technologies

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.