Trane Technologies (NYSE:TT) Earns Buy Rating from Analysts at Northcoast Research

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

A number of other research firms have also recently issued reports on TT. Mizuho boosted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price for the company. Royal Bank of Canada boosted their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Finally, Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Up 0.5 %

Shares of Trane Technologies stock opened at $417.42 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies has a 12 month low of $221.22 and a 12 month high of $421.78. The business has a fifty day simple moving average of $394.03 and a 200 day simple moving average of $356.08. The stock has a market cap of $93.93 billion, a PE ratio of 38.72, a price-to-earnings-growth ratio of 2.63 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Research analysts predict that Trane Technologies will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.80%. Trane Technologies’s dividend payout ratio is 31.17%.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the third quarter worth approximately $27,000. DT Investment Partners LLC acquired a new stake in Trane Technologies during the third quarter worth approximately $36,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the second quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in Trane Technologies during the second quarter worth approximately $39,000. 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.