Trane Technologies (NYSE:TT) Earns Outperform Rating from Analysts at BNP Paribas Exane

Key Points

• BNP Paribas Exane initiated coverage on Trane Technologies with a Outperform rating and a $550 price target, implying roughly a 16.3% upside from the current share price.
• Consensus from analysts is a "Moderate Buy" with an average target of $491.47 (breakdown: 1 Strong Buy, 11 Buy, 6 Hold, 1 Sell), and several firms have recently raised targets or issued positive ratings.
• Trane beat quarterly EPS estimates ($2.86 vs. $2.81) with revenue of $5.14B (+5.6% YoY) and strong ROE (36.34%), but company insiders including the CEO and CFO have recently sold shares under a Rule 10b5‑1 plan.

Investment analysts at BNP Paribas Exane initiated coverage on shares of Trane Technologies (NYSE:TT - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set an "outperform" rating and a $550.00 price target on the stock. BNP Paribas Exane's target price would suggest a potential upside of 16.33% from the company's current price.

TT has been the topic of several other research reports. KeyCorp raised Trane Technologies from a "sector weight" rating to an "overweight" rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. Royal Bank Of Canada boosted their target price on Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Oppenheimer boosted their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Finally, Evercore started coverage on Trane Technologies in a report on Monday. They set an "outperform" rating and a $535.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $491.47.

Trane Technologies Stock Up 1.5%

NYSE:TT opened at $472.80 on Tuesday. The firm has a market capitalization of $104.65 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. Trane Technologies has a twelve month low of $318.08 and a twelve month high of $479.37. The stock's 50 day moving average price is $441.91 and its two-hundred day moving average price is $420.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.61 EPS. Equities research analysts expect that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 57,997 shares of company stock valued at $25,107,014. Company insiders own 0.14% of the company's stock.

Institutional Trading of Trane Technologies

Several institutional investors have recently added to or reduced their stakes in TT. Financial Consulate Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $25,000. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $25,000. United Community Bank lifted its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at $32,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $32,000. 82.97% of the stock is currently owned by institutional investors.

About Trane Technologies

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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