Trane Technologies (NYSE:TT) Upgraded at Bank of America

Bank of America upgraded shares of Trane Technologies (NYSE:TT) from a neutral rating to a buy rating in a research note issued to investors on Thursday, MarketBeat reports. Bank of America currently has $550.00 price objective on the stock, up from their prior price objective of $490.00.

Other equities research analysts also recently issued research reports about the stock. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Northcoast Research lowered shares of Trane Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, August 1st. Barclays increased their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Royal Bank Of Canada raised their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $472.07.

Trane Technologies Stock Up 0.9%

TT stock opened at $418.60 on Thursday. The stock has a market capitalization of $92.82 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The company has a 50-day moving average of $419.79 and a two-hundred day moving average of $425.30. 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 current ratio of 1.10 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.08. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, equities research analysts anticipate that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 28.92%.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by insiders.

Institutional Trading of Trane Technologies

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock valued at $8,657,398,000 after purchasing an additional 335,634 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after buying an additional 1,408,421 shares in the last quarter. State Street Corp lifted its position in shares of Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after buying an additional 31,826 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after acquiring an additional 56,293 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after acquiring an additional 241,910 shares in the last quarter. 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.