Trane Technologies (NYSE:TT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Trane Technologies (NYSE:TT) from a buy rating to a hold rating in a research report released on Sunday.

Other equities research analysts have also recently issued reports about the stock. Citigroup cut their price objective on shares of Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Royal Bank Of Canada lowered their target price on Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating for the company in a report on Friday, July 31st. Sanford C. Bernstein lifted their price target on Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Weiss Ratings cut Trane Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $521.50.

Trane Technologies Price Performance

NYSE TT opened at $448.67 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07. The stock has a market cap of $98.72 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.97 and a beta of 1.19. The business has a 50 day simple moving average of $472.93 and a 200 day simple moving average of $461.34. Trane Technologies has a 52-week low of $348.06 and a 52-week high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.88 earnings per share. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Analysts anticipate that Trane Technologies will post 15.31 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 31.82%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 43,778 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total value of $20,794,550.00. Following the completion of the transaction, the chief executive officer owned 96,950 shares of the company’s stock, valued at approximately $46,051,250. This trade represents a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently modified their holdings of the stock. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $25,000. Wilkerson Advisory Group LLC raised its stake in Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $32,000. Elevation Wealth Partners LLC lifted its position in shares of Trane Technologies by 153.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock valued at $32,000 after acquiring an additional 40 shares during the period. Finally, JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth about $32,000. Institutional investors own 82.97% of the company’s stock.

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.