UBS Group Initiates Coverage on Trane Technologies (NYSE:TT)

Investment analysts at UBS Group initiated coverage on shares of Trane Technologies (NYSE:TT) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $500.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 21.91% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $389.77.

Trane Technologies Stock Performance

Shares of TT stock opened at $410.13 on Wednesday. Trane Technologies has a 52-week low of $221.22 and a 52-week high of $421.78. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $92.29 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The business has a 50-day simple moving average of $385.43 and a 200-day simple moving average of $351.65.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 earnings per share. On average, equities analysts expect that Trane Technologies will post 11.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $36,000. Pittenger & Anderson Inc. purchased a new position in Trane Technologies in the third quarter worth approximately $39,000. Fortitude Family Office LLC increased its stake in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Trane Technologies in the second quarter valued at $39,000. 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.