Weekly Research Analysts’ Ratings Updates for Trane Technologies (TT)

Several brokerages have updated their recommendations and price targets on shares of Trane Technologies (NYSE: TT) in the last few weeks:

• 8/5/2024 – Trane Technologies had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $350.00 price target on the stock.
• 8/1/2024 – Trane Technologies had its price target raised by analysts at Wells Fargo & Company from $310.00 to $315.00. They now have an “underweight” rating on the stock.
• 8/1/2024 – Trane Technologies had its price target raised by analysts at Royal Bank of Canada from $334.00 to $350.00. They now have a “sector perform” rating on the stock.
• 8/1/2024 – Trane Technologies had its price target raised by analysts at Barclays PLC from $385.00 to $394.00. They now have an “overweight” rating on the stock.
• 8/1/2024 – Trane Technologies had its price target raised by analysts at Robert W. Baird from $360.00 to $365.00. They now have a “neutral” rating on the stock.
• 7/15/2024 – Trane Technologies had its price target raised by analysts at Robert W. Baird from $344.00 to $360.00. They now have a “neutral” rating on the stock.
• 7/10/2024 – Trane Technologies had its price target raised by analysts at Wells Fargo & Company from $295.00 to $310.00. They now have an “underweight” rating on the stock.
• 7/10/2024 – Trane Technologies had its price target raised by analysts at Barclays PLC from $380.00 to $385.00. They now have an “overweight” rating on the stock.

Trane Technologies Stock Performance

TT traded up $6.51 during trading hours on Tuesday, hitting $339.40. 885,715 shares of the stock were exchanged, compared to its average volume of 1,134,912. The stock has a market cap of $76.82 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The stock has a 50-day simple moving average of $331.50 and a 200-day simple moving average of $309.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $351.41.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $2.68 earnings per share. Analysts anticipate that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.99%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. In the last three months, insiders sold 44,243 shares of company stock valued at $14,216,550. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TT. International Assets Investment Management LLC grew its position in Trane Technologies by 1.6% during the 4th quarter. International Assets Investment Management LLC now owns 4,241 shares of the company’s stock worth $1,034,000 after purchasing an additional 65 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Trane Technologies by 137.9% during the fourth quarter. Cerity Partners LLC now owns 33,549 shares of the company’s stock valued at $8,183,000 after buying an additional 19,446 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Trane Technologies by 33.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,887 shares of the company’s stock valued at $460,000 after buying an additional 468 shares during the period. Simplicity Solutions LLC lifted its stake in Trane Technologies by 3.3% in the 4th quarter. Simplicity Solutions LLC now owns 3,577 shares of the company’s stock worth $872,000 after acquiring an additional 113 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $3,366,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.