Northcoast Research Initiates Coverage on Trane Technologies (NYSE:TT)

Research analysts at Northcoast Research began coverage on shares of Trane Technologies (NYSE:TT) in a research note issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $500.00 price target on the stock. Northcoast Research’s price target suggests a potential upside of 19.76% from the company’s current price.

A number of other equities research analysts have also recently commented on TT. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $397.64.

Trane Technologies Trading Up 0.5 %

Shares of TT stock opened at $417.49 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a 50 day simple moving average of $394.03 and a two-hundred day simple moving average of $356.29. The company has a market cap of $93.94 billion, a P/E ratio of 38.73, a PEG ratio of 2.63 and a beta of 1.02. Trane Technologies has a fifty-two week low of $221.22 and a fifty-two week high of $421.78.

Trane Technologies (NYSE:TT) last announced its earnings results 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. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts forecast that Trane Technologies will post 11.14 earnings per share for the current year.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TT. Albar Capital Ltd bought a new position in Trane Technologies during the second quarter valued at approximately $14,556,000. GDS Wealth Management boosted its holdings in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares in the last quarter. King Wealth Management Group purchased a new stake in shares of Trane Technologies in the 3rd quarter worth about $1,879,000. Gradient Investments LLC lifted its holdings in Trane Technologies by 7,988.0% in the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares during the period. Finally, QRG Capital Management Inc. boosted its position in Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after acquiring an additional 1,554 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.