Trane Technologies (NYSE:TT) Research Coverage Started at UBS Group

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

Several other analysts have also recently issued reports on TT. The Goldman Sachs Group increased their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Robert W. Baird lowered their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays boosted their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $389.77.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $407.60 on Wednesday. The business’s fifty day simple moving average is $388.09 and its 200-day simple moving average is $352.80. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $91.72 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02. Trane Technologies has a 52 week low of $221.22 and a 52 week high of $421.78.

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

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the third quarter valued at about $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC increased its stake in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Quarry LP acquired a new stake in shares of Trane Technologies during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

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.