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

Northcoast Research began coverage on shares of Trane Technologies (NYSE:TT) in a report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $500.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada upped their price objective 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. Barclays lifted their price objective on Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Mizuho upped their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Stock Down 1.0 %

Trane Technologies stock opened at $413.32 on Friday. The firm has a market cap of $93.01 billion, a price-to-earnings ratio of 38.34, a P/E/G ratio of 2.64 and a beta of 1.02. The firm has a fifty day moving average price of $394.91 and a two-hundred day moving average price of $357.06. Trane Technologies has a fifty-two week low of $221.22 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. 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 prior year, the company earned $2.79 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Trane Technologies will post 11.14 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently made changes to their positions in the company. Trust Point Inc. increased its position in shares of Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY increased its holdings in Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial raised its stake in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after acquiring an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the period. Finally, Greenleaf Trust boosted its holdings in Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after acquiring an additional 29 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.