Trane Technologies (NYSE:TT) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Trane Technologies with an “overweight” rating and a $550 price target, implying approximately 15.3% upside from the reported share price.
• Analyst sentiment is broadly positive: Trane Technologies has a consensus “Buy” rating and an average price target of $536.50, supported by multiple Buy and Strong Buy ratings.
• The company recently exceeded quarterly expectations, reporting $4.31 in adjusted EPS versus a $4.27 estimate and $6.35 billion in revenue versus a $6.20 billion consensus; revenue increased 10.6% year over year.

Research analysts at JPMorgan Chase & Co. began coverage on shares of Trane Technologies (NYSE:TT - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set an "overweight" rating and a $550.00 price target on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 15.26% from the company's current price.

Several other equities research analysts have also recently commented on TT. Wall Street Zen cut Trane Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Citigroup cut their price target on Trane Technologies from $570.00 to $566.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Sanford C. Bernstein lifted their price objective 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. Royal Bank Of Canada dropped their target price on shares of Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating on the stock in a research report on Friday, July 31st. Finally, Wells Fargo & Company initiated coverage on shares of Trane Technologies in a research note on Friday, September 25th. They set an "overweight" rating and a $536.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $536.50.

Trane Technologies Price Performance

NYSE TT traded up $7.24 during trading on Friday, hitting $477.18. 34,424 shares of the company's stock were exchanged, compared to its average volume of 1,366,100. The stock's 50 day moving average price is $454.83 and its two-hundred day moving average price is $461.23. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The company has a market cap of $104.99 billion, a PE ratio of 35.94, a P/E/G ratio of 2.18 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.27 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The firm's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.88 earnings per share. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Research analysts expect that Trane Technologies will post 15.3 EPS for the current year.

Insider Buying and Selling

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the company's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilkerson Advisory Group LLC increased its holdings in Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in Trane Technologies by 153.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 66 shares of the company's stock valued at $32,000 after acquiring an additional 40 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Trane Technologies in the first quarter valued at about $33,000. Finally, Axiom Investment Management LLC purchased a new position in Trane Technologies during the first quarter worth about $50,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Company Profile

Trane Technologies plc is a global climate solutions company that develops and provides systems, equipment, services and controls for heating, ventilation, air conditioning and refrigeration. Its solutions are used in commercial buildings, industrial facilities, residential properties, data centers, transportation and other applications where temperature control and energy efficiency are important.

The company operates through two primary areas: Climate Solutions, which includes building heating and cooling systems, building controls, services and energy-management solutions; and Climate Solutions Transport, which provides refrigeration systems for trucks, trailers, shipping containers and other transportation applications.

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