Trane Technologies (NYSE:TT) Upgraded by Sanford C. Bernstein to “Strong-Buy” Rating

Trane Technologies (NYSE:TT) was upgraded by equities researchers at Sanford C. Bernstein to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

TT has been the subject of a number of other reports. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Evercore initiated coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Barclays raised their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $449.96 on Tuesday. The company has a market cap of $99.47 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. Trane Technologies has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a 50-day simple moving average of $462.00 and a 200-day simple moving average of $432.62.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.45 earnings per share. On average, equities analysts anticipate that Trane Technologies will post 14.88 earnings per share for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TT. Rathbones Group PLC increased its stake in Trane Technologies by 4.8% during the first quarter. Rathbones Group PLC now owns 71,833 shares of the company’s stock valued at $29,936,000 after purchasing an additional 3,263 shares during the last quarter. DV Trading LLC increased its stake in Trane Technologies by 174.9% during the first quarter. DV Trading LLC now owns 657 shares of the company’s stock valued at $274,000 after purchasing an additional 418 shares during the last quarter. First Nebraska Trust Co bought a new stake in Trane Technologies during the first quarter valued at $22,332,000. Dala Group LLC bought a new stake in Trane Technologies during the first quarter valued at $1,044,000. Finally, Maripau Wealth Management LLC acquired a new position in shares of Trane Technologies during the first quarter valued at $226,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.