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

Sanford C. Bernstein upgraded shares of Trane Technologies (NYSE:TT) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

TT has been the topic of a number of other reports. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Citigroup lifted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Barclays lifted their target price 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. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Trading Down 4.4%

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

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.45 earnings per share. Analysts expect that Trane Technologies will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated 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 directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Trane Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Tucker Asset Management LLC acquired a new position in Trane Technologies during the fourth quarter worth about $25,000. Wilkerson Advisory Group LLC raised its position in Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies during the fourth quarter worth about $32,000. JPL Wealth Management LLC acquired a new position in Trane Technologies during the third quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. raised its position in Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors 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.