Trane Technologies (NYSE:TT) Coverage Initiated by Analysts at Evercore

Evercore started coverage on shares of Trane Technologies (NYSE:TT) in a research report released on Monday, Marketbeat reports. The firm issued an outperform rating and a $535.00 target price on the stock.

Several other research firms have also recently weighed in on TT. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Wednesday, January 7th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Royal Bank Of Canada upped their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $487.81.

Trane Technologies Stock Performance

TT stock opened at $472.80 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The company has a 50 day moving average price of $441.91 and a 200 day moving average price of $420.19. Trane Technologies has a fifty-two week low of $318.08 and a fifty-two week high of $479.37. The stock has a market capitalization of $104.64 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the company posted $2.61 EPS. Trane Technologies’s revenue was up 5.6% on a year-over-year basis. Analysts forecast that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s payout ratio is currently 32.36%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,997 shares of company stock valued at $25,107,014 in the last three months. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Consulate Inc. acquired a new position in Trane Technologies in the third quarter valued at about $25,000. Tucker Asset Management LLC bought a new position in Trane Technologies during the 4th quarter worth about $25,000. United Community Bank increased its holdings in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Trane Technologies during the 4th quarter worth about $32,000. Finally, JPL Wealth Management LLC bought a new position in Trane Technologies during the 3rd quarter worth about $32,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Company Profile

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.