Trane Technologies (NYSE:TT) Rating Increased to Outperform at Oppenheimer

Trane Technologies (NYSE:TT) was upgraded by Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday. The firm presently has a $460.00 target price on the stock. Oppenheimer’s price target indicates a potential upside of 18.19% from the stock’s current price.

A number of other brokerages have also issued reports on TT. Barclays dropped their target price on shares of Trane Technologies from $506.00 to $505.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. UBS Group reduced their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Melius upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Wednesday, January 7th. Wells Fargo & Company cut their price target on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a report on Friday, December 19th. Finally, Melius Research upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $474.63.

Trane Technologies Stock Performance

Shares of TT opened at $389.21 on Tuesday. The firm has a market cap of $86.30 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The company’s fifty day moving average is $398.80 and its 200-day moving average is $416.98. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47. Trane Technologies has a 12 month low of $298.15 and a 12 month high of $476.18.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the business posted $3.37 earnings per share. The business’s quarterly 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. Equities analysts expect that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction 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 sale, the chief accounting officer owned 7,148 shares in the company, valued at approximately $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TT. NorthRock Partners LLC increased its holdings in shares of Trane Technologies by 1.2% in the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after purchasing an additional 24 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of Trane Technologies by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after buying an additional 24 shares during the period. Old Port Advisors raised its position in shares of Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after acquiring an additional 24 shares during the last quarter. OneAscent Wealth Management LLC raised its position in shares of Trane Technologies by 1.5% during 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. lifted its stake in shares of Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds 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.