Trane Technologies (NYSE:TT) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Trane Technologies (NYSE:TT) from a buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Trane Technologies plc provides climate control solutions for buildings, homes and transportation. Trane Technologies plc, formerly known as Ingersoll-Rand Plc, is based in SWORDS, Ireland. “

A number of other analysts have also commented on the stock. Jefferies Financial Group boosted their price target on shares of Trane Technologies from $140.00 to $160.00 and gave the company a hold rating in a research note on Friday, January 15th. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $164.00 to $181.00 and gave the stock a sector perform rating in a report on Thursday, May 6th. Credit Suisse Group lifted their price objective on shares of Trane Technologies from $175.00 to $190.00 and gave the stock an outperform rating in a report on Thursday, May 6th. Morgan Stanley lifted their price objective on shares of Trane Technologies from $187.00 to $205.00 and gave the stock an overweight rating in a report on Thursday, May 6th. Finally, Barclays lifted their price objective on shares of Trane Technologies from $180.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, May 6th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Trane Technologies has an average rating of Hold and a consensus target price of $165.33.

Shares of TT stock opened at $184.20 on Tuesday. The firm has a market capitalization of $44.05 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The firm has a fifty day simple moving average of $172.43 and a two-hundred day simple moving average of $154.35. The company has a current ratio of 1.67, a quick ratio of 1.38 and a debt-to-equity ratio of 0.70. Trane Technologies has a 12 month low of $76.43 and a 12 month high of $187.98.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, May 5th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.39. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.85 billion. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. Trane Technologies’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. On average, equities analysts predict that Trane Technologies will post 4.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Friday, June 4th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, June 3rd. Trane Technologies’s dividend payout ratio is currently 37.05%.

Institutional investors have recently made changes to their positions in the stock. Sterling Financial Planning Inc. bought a new stake in Trane Technologies in the 4th quarter valued at about $26,000. Arkadios Wealth Advisors raised its stake in Trane Technologies by 180.0% in the 4th quarter. Arkadios Wealth Advisors now owns 182 shares of the company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. Evolution Wealth Advisors LLC raised its stake in Trane Technologies by 239.1% in the 1st quarter. Evolution Wealth Advisors LLC now owns 156 shares of the company’s stock valued at $26,000 after acquiring an additional 110 shares during the period. Manchester Financial Inc. raised its stake in Trane Technologies by 310.5% in the 1st quarter. Manchester Financial Inc. now owns 156 shares of the company’s stock valued at $26,000 after acquiring an additional 118 shares during the period. Finally, GPS Wealth Strategies Group LLC bought a new stake in Trane Technologies in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 79.85% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services climate control products for heating, ventilation, air conditioning, and transport solutions. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; 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.

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