Trane Technologies (NYSE:TT) Rating Increased to Buy at UBS Group

by Atma
January 21, 2024

UBS Group upgraded shares of Trane Technologies (NYSE:TT – Get Rating) from a neutral rating to a buy rating in a report released on Wednesday, The Fly reports. The firm currently has a $200.00 price objective on the stock, up from their previous price objective of $168.00.

Several other research firms also recently commented on TT. Royal Bank of Canada lifted their price objective on Trane Technologies from $155.00 to $162.00 and gave the stock a sector performance rating in a report on Thursday, November 3rd. Bank of America downgraded Trane Technologies from a neutral rating to an underperform rating and set a $160.00 price objective for the company. in a report on Monday, December 12th. Argus lifted their price objective on Trane Technologies from $170.00 to $185.00 in a report on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft raised their target price on Trane Technologies from $151.00 to $155.00 and gave the stock a hold rating in a research report on Thursday, October 13th. Finally, Citigroup raised their target price on Trane Technologies from $185.00 to $204.00 in a research report on Friday, December 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating for the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of Hold and a consensus target price of $171.39.

Trane Technologies Price Performance

TT opened at $174.31 on Wednesday. The stock has a fifty day simple moving average of $171.88 and a two-hundred day simple moving average of $155.69. The company has a current ratio of 1.14, a quick ratio of 0.78 and a debt-to-equity ratio of 0.65. The company has a market cap of $40.14 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Trane Technologies has a 12-month low of $120.64 and a 12-month high of $197.09.

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Trane Technologies (NYSE:TT – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.15. Trane Technologies has a return on equity of 27.32% and a net margin of 10.56%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.16 billion. Research analysts predict that Trane Technologies will post 7.17 earnings per share for the current fiscal year.

Trane Technologies Announces Dividends

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 2nd were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, December 1st. Trane Technologies’s payout ratio is 38.73%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 14,651 shares of Trane Technologies stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $179.00, for a total value of $2,622,529.00. Following the sale, the chief executive officer now owns 95,751 shares of the company’s stock, valued at approximately $17,139,429. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Mairead Magner sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $165.00, for a total transaction of $165,000.00. Following the transaction, the senior vice president now owns 11,079 shares of the company’s stock, valued at approximately $1,828,035. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 14,651 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $179.00, for a total value of $2,622,529.00. Following the transaction, the chief executive officer now directly owns 95,751 shares in the company, valued at approximately $17,139,429. The disclosure for this sale can be found here. Insiders have sold a total of 16,651 shares of company stock valued at $2,947,529 in the last quarter. 0.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently modified their holdings of the stock. Clear Street Markets LLC boosted its holdings in Trane Technologies by 409.4% during the 2nd quarter. Clear Street Markets LLC now owns 489 shares of the company’s stock valued at $64,000 after acquiring an additional 393 shares during the period. Corient Capital Partners LLC boosted its holdings in Trane Technologies by 7.2% during the 2nd quarter. Corient Capital Partners LLC now owns 3,525 shares of the company’s stock valued at $458,000 after acquiring an additional 236 shares during the period. WCG Wealth Advisors LLC purchased a new position in Trane Technologies during the 2nd quarter valued at $507,000. CWM LLC boosted its holdings in Trane Technologies by 12.3% during the 2nd quarter. CWM LLC now owns 3,385 shares of the company’s stock valued at $440,000 after acquiring an additional 371 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Trane Technologies by 60.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,692 shares of the company’s stock valued at $1,983,000 after acquiring an additional 5,156 shares during the period. Institutional investors own 81.47% of the company’s stock.

About Trane Technologies

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling and servicing of solutions for heating, ventilation, air conditioning and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; generators; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.