Trane Technologies (NYSE:TT) Now Covered by HSBC

Equities researchers at HSBC assumed coverage on shares of Trane Technologies (NYSE:TT) in a note issued to investors on Friday, FlyOnTheWall reports. The brokerage set a “buy” rating on the stock.

A number of other equities research analysts have also weighed in on TT. Barclays boosted their price objective on shares of Trane Technologies from $210.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Citigroup upped their price target on shares of Trane Technologies from $218.00 to $237.00 in a report on Thursday, August 3rd. Bank of America upped their price target on shares of Trane Technologies from $160.00 to $187.00 and gave the company an “underperform” rating in a report on Thursday, August 3rd. Royal Bank of Canada upped their price target on shares of Trane Technologies from $194.00 to $204.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Finally, Morgan Stanley upped their price target on shares of Trane Technologies from $210.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $194.81.

Trane Technologies Trading Down 2.5 %

Shares of TT opened at $202.05 on Friday. The firm has a market cap of $46.15 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 1.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 1.19. Trane Technologies has a fifty-two week low of $139.07 and a fifty-two week high of $211.58. The firm has a 50 day moving average price of $200.57 and a 200-day moving average price of $187.09.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.12. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.61 billion. Trane Technologies had a net margin of 11.18% and a return on equity of 31.22%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 EPS. As a group, equities research analysts forecast that Trane Technologies will post 8.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Mark Majocha sold 2,202 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $194.28, for a total value of $427,804.56. Following the sale, the chief accounting officer now directly owns 3,797 shares of the company’s stock, valued at approximately $737,681.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Mark Majocha sold 2,202 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $194.28, for a total value of $427,804.56. Following the sale, the chief accounting officer now directly owns 3,797 shares of the company’s stock, valued at approximately $737,681.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul A. Camuti sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the executive vice president now directly owns 89,409 shares in the company, valued at $17,524,164. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,374 shares of company stock worth $4,080,669. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in Trane Technologies during the 1st quarter valued at about $178,000. Blair William & Co. IL lifted its stake in Trane Technologies by 3.0% during the 1st quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after acquiring an additional 495 shares during the period. Sequoia Financial Advisors LLC bought a new position in Trane Technologies during the 1st quarter valued at about $219,000. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after acquiring an additional 77,924 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Trane Technologies by 3.8% during the 1st quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock valued at $146,008,000 after acquiring an additional 34,591 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Company Profile

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.