Trane Technologies (NYSE:TT) Now Covered by Analysts at Northcoast Research

Northcoast Research assumed coverage on shares of Trane Technologies (NYSE:TT) in a research note published on Friday, MarketBeat reports. The firm issued a buy rating and a $500.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group increased their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Barclays increased their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Performance

TT stock opened at $417.42 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a market cap of $93.93 billion, a P/E ratio of 38.72, a P/E/G ratio of 2.63 and a beta of 1.02. Trane Technologies has a 12-month low of $221.22 and a 12-month high of $421.78. The stock’s 50 day simple moving average is $394.03 and its 200 day simple moving average is $356.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. As a group, equities research analysts predict that Trane Technologies will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TT. Albar Capital Ltd acquired a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $14,556,000. GDS Wealth Management lifted its position in shares of Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the period. King Wealth Management Group bought a new position in shares of Trane Technologies during the 3rd quarter worth approximately $1,879,000. Gradient Investments LLC lifted its position in shares of Trane Technologies by 7,988.0% during the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Trane Technologies

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.