Trane Technologies’ (TT) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b) rating on shares of Trane Technologies (NYSE:TT) in a report issued on Friday,Weiss Ratings reports.

Several other equities research analysts have also recently commented on the company. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Morgan Stanley boosted their price target on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Citigroup decreased their target price on Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. The Goldman Sachs Group upped their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Barclays decreased their target price on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $464.29.

Trane Technologies Trading Up 2.4%

Shares of NYSE TT opened at $425.81 on Friday. The stock has a market cap of $94.75 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.65 and a beta of 1.12. The business has a 50 day simple moving average of $416.36 and a 200 day simple moving average of $415.72. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, research analysts predict that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is currently 29.82%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds have recently modified their holdings of the business. NorthRock Partners LLC boosted its position in shares of Trane Technologies by 1.2% in the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after acquiring an additional 24 shares during the period. King Luther Capital Management Corp boosted its position in shares of Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after acquiring an additional 24 shares during the period. Old Port Advisors lifted its position in Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after purchasing an additional 24 shares during the period. Csenge Advisory Group lifted its position in Trane Technologies by 0.6% in the first quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock worth $1,314,000 after purchasing an additional 25 shares during the period. Finally, Confluence Wealth Services Inc. lifted its position in Trane Technologies by 0.7% in the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock worth $1,579,000 after purchasing an additional 25 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Company Profile

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.