Trane Technologies plc (NYSE:TT) Stock Now Rated "Buy" by Sell-Side Analysts

Key Points

• Analysts rate Trane Technologies a consensus “Buy”: Eleven of 15 analysts recommend buying, with two “strong buy” and two “hold” ratings. The average 12-month price target is $531.21, above the reported $469.93 opening price.
• Quarterly results exceeded expectations: Trane Technologies reported $4.31 in EPS and $6.35 billion in revenue, topping estimates of $4.27 and $6.20 billion, respectively. Revenue increased 10.6% year over year, and full-year EPS guidance is $15.20–$15.30.
• The company declared a quarterly dividend of $1.05, equivalent to $4.20 annually and a 0.9% yield. Institutional investors own 82.97% of the stock, while CEO David Regnery sold 48,091 shares under a pre-arranged Rule 10b5-1 plan.

Trane Technologies plc (NYSE:TT - Get Free Report) has earned an average rating of "Buy" from the fifteen research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $531.21.

Several research analysts have commented on TT shares. Citigroup reduced their price objective on Trane Technologies from $570.00 to $566.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Wells Fargo & Company started coverage on Trane Technologies in a research report on Friday, September 25th. They set an "overweight" rating and a $536.00 price target on the stock. Wall Street Zen lowered Trane Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Sanford C. Bernstein lifted their price objective on Trane Technologies from $555.00 to $575.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Trane Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 10th.

Trane Technologies Trading Up 0.6%

Shares of TT opened at $469.93 on Friday. Trane Technologies has a 1-year low of $348.06 and a 1-year high of $505.87. The company has a 50-day moving average of $454.83 and a 200 day moving average of $461.23. The firm has a market capitalization of $103.39 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76.

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

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 4th. Trane Technologies's dividend payout ratio is presently 31.82%.

Insider Activity

In related news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction that occurred 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 directly owned 96,951 shares of the company's stock, valued at $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company's stock.

Institutional Trading of Trane Technologies

A number of hedge funds have recently bought and sold shares of TT. Amundi lifted its position in shares of Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company's stock valued at $906,158,000 after buying an additional 703,018 shares during the last quarter. First Trust Advisors LP grew its position in shares of Trane Technologies by 536.6% in the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company's stock worth $221,763,000 after buying an additional 448,547 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Trane Technologies by 215.9% during the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company's stock worth $271,950,000 after acquiring an additional 446,598 shares in the last quarter. Sei Investments Co. raised its stake in shares of Trane Technologies by 261.5% during the 1st quarter. Sei Investments Co. now owns 357,337 shares of the company's stock worth $148,915,000 after acquiring an additional 258,478 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Trane Technologies by 51.9% during the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company's stock valued at $286,172,000 after acquiring an additional 234,666 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

About Trane Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.