Trane Technologies (NYSE:TT) Upgraded at Oppenheimer

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

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company cut their price target on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. Morgan Stanley cut their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Finally, Barclays cut their price objective on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $479.73.

Trane Technologies Stock Down 1.4%

Shares of TT stock opened at $389.97 on Tuesday. The stock’s fifty day moving average price is $397.09 and its 200 day moving average price is $416.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a market cap of $86.47 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.98 and a beta of 1.21.

Trane Technologies (NYSE:TT) last issued its quarterly 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. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm earned $3.37 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts expect that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of TT. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.7% in the second 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 period. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares in the last quarter. State Street Corp grew its stake in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after acquiring an additional 31,826 shares during the period. Geode Capital Management LLC increased its holdings in Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after acquiring an additional 56,293 shares in the last quarter. Finally, Norges Bank acquired a new position in Trane Technologies during the second quarter worth $1,356,065,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.