Trane Technologies (NYSE:TT) Rating Increased to Outperform at Oppenheimer

Oppenheimer upgraded shares of Trane Technologies (NYSE:TT) from a market perform rating to an outperform rating in a research report report published on Tuesday, MarketBeat Ratings reports. Oppenheimer currently has $460.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada upped their price objective on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research report on Friday, October 31st. Melius raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. Morgan Stanley decreased their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, UBS Group cut their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $474.63.

Trane Technologies Price Performance

Trane Technologies stock opened at $386.92 on Tuesday. Trane Technologies has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $398.12 and its 200 day moving average is $416.61. The company has a market cap of $85.79 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.95 and a beta of 1.21.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Sell-side analysts forecast that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds have recently made changes to their positions in TT. Financial Consulate Inc. bought a new stake in shares of Trane Technologies in the third quarter valued at about $25,000. Icon Advisers Inc. Co. purchased a new position in Trane Technologies during the 2nd quarter valued at about $26,000. Ameriflex Group Inc. bought a new stake in shares of Trane Technologies in the 2nd quarter valued at about $28,000. Hantz Financial Services Inc. lifted its position in shares of Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the period. Finally, United Community Bank boosted its stake in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 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.