Trane Technologies (NYSE:TT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Trane Technologies (NYSE:TT) from a buy rating to a hold rating in a research note released on Sunday morning.

TT has been the topic of a number of other research reports. Barclays lifted their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a report on Thursday, July 9th. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $520.07.

Trane Technologies Stock Down 0.0%

TT stock opened at $482.22 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The firm’s 50-day simple moving average is $473.07 and its 200 day simple moving average is $456.17. The stock has a market cap of $106.10 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the business posted $3.88 EPS. Trane Technologies’s revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, sell-side analysts predict that Trane Technologies will post 15.31 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 31.82%.

Insider Activity

In related news, CEO David S. Regnery sold 43,778 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the transaction, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. This trade represents a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Institutional investors have recently added to or reduced their stakes in the company. Foster & Motley Inc. bought a new position in Trane Technologies during the 2nd quarter valued at $238,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Trane Technologies in the 2nd quarter worth $572,000. Trust Co. of Vermont acquired a new stake in shares of Trane Technologies in the second quarter valued at $187,000. Firetrail Investments PTY Ltd. acquired a new stake in shares of Trane Technologies in the second quarter valued at $9,807,000. Finally, Plato Investment Management Ltd bought a new position in Trane Technologies during the second quarter valued at about $4,331,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.