Trane Technologies (NYSE:TT) Stock Lifted to "Strong-Buy" by Wells Fargo & Company

Key Points

• Wells Fargo upgraded Trane Technologies to “strong buy,” joining a generally positive analyst consensus. The stock has an average rating of “buy” and an average price target of $531.21.
• Trane Technologies reported quarterly EPS of $4.31, exceeding estimates of $4.27, while revenue reached $6.35 billion versus $6.20 billion expected. Quarterly revenue increased 10.6% year over year.
• The stock opened at $454.61, with a market capitalization of approximately $100 billion and a 52-week range of $348.06 to $505.87. CEO David Regnery sold 43,778 shares under a pre-arranged trading plan, while institutional investors own 82.97% of the company.

Trane Technologies (NYSE:TT - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company to a "strong-buy" rating in a report issued on Thursday, Zacks reports.

TT has been the subject of several other reports. Royal Bank Of Canada decreased their price target on shares of Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating for the company in a report on Friday, July 31st. Weiss Ratings upgraded shares of Trane Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 10th. Sanford C. Bernstein lifted their target price on shares of Trane Technologies from $555.00 to $575.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Wall Street Zen cut shares of Trane Technologies from a "buy" rating to a "hold" rating in a report on Sunday, August 30th. Finally, Citigroup dropped their price target on shares of Trane Technologies from $570.00 to $566.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $531.21.

Trane Technologies Stock Up 3.7%

NYSE:TT opened at $454.61 on Thursday. The business's fifty day moving average price is $455.82 and its 200 day moving average price is $458.55. The firm has a market capitalization of $100.02 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 2.10 and a beta of 1.19. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. Trane Technologies has a 1-year low of $348.06 and a 1-year high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, topping analysts' consensus estimates of $4.27 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, sell-side analysts forecast that Trane Technologies will post 15.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, CEO David Regnery sold 43,778 shares of Trane Technologies stock in a transaction that occurred 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 sale, the chief executive officer directly owned 96,950 shares in the company, valued at $46,051,250. The trade was a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its holdings in shares of Trane Technologies by 0.6% during the 4th quarter. State Street Corp now owns 10,113,123 shares of the company's stock valued at $3,936,034,000 after acquiring an additional 61,393 shares during the last quarter. Norges Bank bought a new stake in Trane Technologies during the fourth quarter valued at about $1,163,124,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Trane Technologies by 0.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,340,219 shares of the company's stock valued at $910,813,000 after acquiring an additional 7,537 shares during the period. Amundi grew its position in shares of Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company's stock valued at $906,158,000 after purchasing an additional 703,018 shares during the last quarter. Finally, Nuveen LLC increased its stake in shares of Trane Technologies by 1.7% in the fourth quarter. Nuveen LLC now owns 2,171,608 shares of the company's stock worth $845,190,000 after purchasing an additional 36,655 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

About Trane Technologies

Trane Technologies plc is a global climate-focused company that designs, manufactures and services solutions for heating, ventilation and air conditioning (HVAC), as well as transport refrigeration. Its offerings include commercial and residential HVAC systems, building controls, energy-efficiency solutions, aftermarket services and parts, and related building-management technologies.

The company also serves the transportation market through refrigeration and temperature-control systems for trucks, trailers, rail cars and other applications.

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