Trane Technologies (NYSE:TT) Coverage Initiated by Analysts at Northcoast Research

Northcoast Research began coverage on shares of Trane Technologies (NYSE:TT) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $500.00 price objective on the stock.

Several other analysts also recently issued reports on TT. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. The Goldman Sachs Group raised 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. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Finally, Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $397.64.

Trane Technologies Price Performance

Trane Technologies stock opened at $413.32 on Friday. The stock has a market capitalization of $93.01 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 2.64 and a beta of 1.02. Trane Technologies has a 52-week low of $221.22 and a 52-week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock’s 50 day moving average price is $394.91 and its two-hundred day moving average price is $357.06.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS 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 business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the company posted $2.79 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that Trane Technologies will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC purchased a new stake in Trane Technologies during the 1st quarter valued at $379,000. EP Wealth Advisors LLC boosted its holdings in shares of Trane Technologies by 9.3% during the first quarter. EP Wealth Advisors LLC now owns 1,452 shares of the company’s stock worth $436,000 after purchasing an additional 124 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Trane Technologies by 172.2% in the first quarter. Advisors Asset Management Inc. now owns 1,791 shares of the company’s stock worth $538,000 after purchasing an additional 1,133 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Trane Technologies by 7.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 140,614 shares of the company’s stock valued at $42,212,000 after purchasing an additional 10,035 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Trane Technologies by 21.5% during the 1st quarter. 1832 Asset Management L.P. now owns 5,665 shares of the company’s stock valued at $1,701,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors 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.