Trane Technologies (NYSE:TT) Upgraded at KeyCorp

KeyCorp upgraded shares of Trane Technologies (NYSE:TT) from a sector weight rating to an overweight rating in a research report report published on Monday, MarketBeat reports. KeyCorp currently has $500.00 price objective on the stock.

A number of other brokerages also recently commented on TT. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Barclays upped their price target on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $472.07.

Trane Technologies Stock Down 3.5%

NYSE:TT opened at $382.02 on Monday. The business’s fifty day moving average price is $416.51 and its 200 day moving average price is $423.40. The firm has a market capitalization of $84.71 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.28 and a beta of 1.19. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, sell-side analysts forecast that Trane Technologies will post 12.83 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, December 31st. Shareholders of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is presently 28.92%.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. NorthRock Partners LLC boosted its stake in Trane Technologies by 1.2% during the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after purchasing an additional 24 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after buying an additional 24 shares during the last quarter. Old Port Advisors boosted its position in shares of Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after acquiring an additional 24 shares during the period. OneAscent Wealth Management LLC grew its stake in shares of Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after acquiring an additional 24 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after acquiring an additional 24 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

About Trane Technologies

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.