Trane Technologies (NYSE:TT) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Trane Technologies (NYSE:TT - Free Report) from a hold rating to a strong-buy rating in a research note published on Friday,Zacks.com reports.

Several other research analysts have also weighed in on the company. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Melius Research reissued a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Finally, Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average price target of $414.56.

Trane Technologies Stock Up 3.0 %

Shares of NYSE:TT traded up $11.62 during trading on Friday, hitting $394.93. 915,874 shares of the company's stock traded hands, compared to its average volume of 1,313,015. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market cap of $88.58 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a 50-day moving average price of $342.32 and a 200-day moving average price of $372.27.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. As a group, research analysts forecast that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Several large investors have recently modified their holdings of TT. World Investment Advisors LLC grew its stake in Trane Technologies by 5,253.1% in the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company's stock valued at $13,443,000 after buying an additional 33,935 shares in the last quarter. Sfmg LLC grew its stake in Trane Technologies by 1.5% in the 3rd quarter. Sfmg LLC now owns 2,441 shares of the company's stock valued at $949,000 after buying an additional 36 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Trane Technologies in the 3rd quarter valued at approximately $3,916,000. Tidal Investments LLC grew its stake in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock valued at $6,152,000 after buying an additional 2,874 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after buying an additional 1,271 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

About Trane Technologies

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.