UBS Group began coverage on shares of Trane Technologies (NYSE:TT - Free Report) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $500.00 price objective on the stock.
TT has been the subject of several other research reports. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Stephens restated an "equal weight" rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of "Hold" and a consensus target price of $389.77.
View Our Latest Analysis on TT
Trane Technologies Stock Performance
Shares of TT stock traded up $3.80 on Wednesday, hitting $414.94. The company had a trading volume of 1,134,918 shares, compared to its average volume of 1,118,357. The firm has a market cap of $93.37 billion, a P/E ratio of 38.86, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a 50-day moving average price of $384.06 and a 200-day moving average price of $351.21. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies has a twelve month low of $221.22 and a twelve month high of $421.78.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 EPS. As a group, equities research analysts predict that Trane Technologies will post 11.13 earnings per share for the current fiscal year.
Trane Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.81%. Trane Technologies's dividend payout ratio (DPR) is presently 31.17%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at $36,000. Fortitude Family Office LLC raised its stake in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company's stock valued at $37,000 after acquiring an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the second quarter valued at $39,000. Finally, Quarry LP acquired a new stake in shares of Trane Technologies in the second quarter valued at $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.
About Trane Technologies
(
Get Free Report)
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.
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