Trane Technologies (NYSE:TT) Raised to “Buy” at Wall Street Zen

Trane Technologies (NYSE:TT) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities analysts also recently commented on TT. KeyCorp lifted their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Sanford C. Bernstein upped their price target on shares of Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Barclays lifted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada cut their price objective on Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $521.50.

Trane Technologies Stock Performance

Trane Technologies stock opened at $453.67 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. Trane Technologies has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a fifty day moving average price of $475.23 and a two-hundred day moving average price of $461.01. The company has a market cap of $99.82 billion, a PE ratio of 34.37, a P/E/G ratio of 1.99 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the company earned $3.88 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Research analysts expect that Trane Technologies will post 15.31 earnings per share for the current year.

Insider Activity

In other news, CEO David S. Regnery sold 43,778 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the sale, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. The trade was a 31.11% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Trane Technologies in the 4th quarter valued at about $1,163,124,000. Capital International Investors acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $324,639,000. Amundi grew its position in Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares in the last quarter. First Trust Advisors LP grew its position in Trane Technologies by 536.6% during the first quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock valued at $221,763,000 after purchasing an additional 448,547 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Trane Technologies by 215.9% in the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock worth $271,950,000 after buying an additional 446,598 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.