KeyCorp Upgrades Trane Technologies (NYSE:TT) to Overweight

Trane Technologies (NYSE:TT) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $500.00 target price on the stock. KeyCorp’s price target indicates a potential upside of 26.32% from the stock’s previous close.

Several other research analysts have also commented on TT. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company upped their price objective on Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a report on Monday, October 6th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $472.07.

Trane Technologies Trading Up 0.2%

TT opened at $395.83 on Monday. The firm has a market capitalization of $87.77 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.28 and a beta of 1.19. The company’s 50 day simple moving average is $417.41 and its two-hundred day simple moving average is $423.69. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the business earned $3.37 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Analysts expect that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently bought and sold shares of the company. NorthRock Partners LLC increased its stake in Trane Technologies by 1.2% during the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after purchasing an additional 24 shares during the period. King Luther Capital Management Corp increased its stake in Trane Technologies by 1.3% during the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after buying an additional 24 shares during the period. Old Port Advisors lifted its holdings in Trane Technologies by 3.2% during the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after buying an additional 24 shares in the last quarter. OneAscent Wealth Management LLC boosted its position in Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after buying an additional 24 shares during the period. Finally, Bridgewater Advisors Inc. grew its stake in shares of Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds 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.