Investment Analysts’ Recent 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:

• 10/31/2024 – Trane Technologies had its price target raised by analysts at Barclays PLC from $425.00 to $440.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – Trane Technologies had its price target lowered by analysts at Robert W. Baird from $408.00 to $404.00. They now have a “neutral” rating on the stock.
• 10/31/2024 – Trane Technologies was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating.
• 10/31/2024 – Trane Technologies was downgraded by analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating. They now have a $405.00 price target on the stock.
• 10/17/2024 – Trane Technologies had its price target raised by analysts at Mizuho from $325.00 to $400.00. They now have a “neutral” rating on the stock.
• 10/9/2024 – Trane Technologies had its price target raised by analysts at The Goldman Sachs Group, Inc. from $364.00 to $407.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – Trane Technologies had its price target raised by analysts at Wells Fargo & Company from $320.00 to $360.00. They now have an “underweight” rating on the stock.
• 10/2/2024 – Trane Technologies had its price target raised by analysts at Barclays PLC from $394.00 to $425.00. They now have an “overweight” rating on the stock.
• 9/6/2024 – Trane Technologies had its price target raised by analysts at Wells Fargo & Company from $315.00 to $320.00. They now have an “underweight” rating on the stock.
• 9/6/2024 – Trane Technologies is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $425.00 price target on the stock.

Trane Technologies Stock Up 2.2 %

Shares of NYSE TT traded up $8.18 during midday trading on Tuesday, reaching $385.17. 512,922 shares of the company’s stock were exchanged, compared to its average volume of 1,103,960. 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 plc has a 52-week low of $214.35 and a 52-week high of $406.96. The business’s fifty day moving average price is $378.36 and its two-hundred day moving average price is $346.70. The stock has a market capitalization of $86.67 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 2.38 and a beta of 1.02.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Analysts forecast that Trane Technologies plc will post 11.13 EPS 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 issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Swedbank AB acquired a new stake in Trane Technologies during the first quarter valued at approximately $206,211,000. 1832 Asset Management L.P. grew its position in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after buying an additional 417,120 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Trane Technologies by 41.2% during the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after acquiring an additional 309,738 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after purchasing an additional 277,274 shares during the last quarter. 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.