Trane Technologies (NYSE:TT) Earns Buy Rating from Analysts at UBS Group

Equities researchers at UBS Group initiated coverage on shares of Trane Technologies (NYSE:TT) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating and a $500.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 19.14% from the company’s current price.

Several other analysts have also issued reports on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, Mizuho increased their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $389.77.

Trane Technologies Stock Performance

TT traded up $8.54 during midday trading on Wednesday, reaching $419.68. The company had a trading volume of 294,951 shares, compared to its average volume of 1,114,286. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market cap of $94.44 billion, a PE ratio of 38.89, a P/E/G ratio of 2.63 and a beta of 1.02. Trane Technologies has a 12-month low of $221.22 and a 12-month high of $420.97. The business has a 50-day moving average price of $384.06 and a two-hundred day moving average price of $351.21.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. On average, sell-side analysts expect that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Trust Point Inc. lifted its holdings in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial raised its position 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 buying an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC raised its position in shares of Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 28 shares during the last quarter. Greenleaf Trust raised its position in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its position in Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other 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.