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

Stock analysts at Northcoast Research initiated coverage on shares of Trane Technologies (NYSE:TT) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $500.00 price target on the stock. Northcoast Research’s target price suggests a potential upside of 19.76% from the stock’s previous close.

TT has been the subject of a number of other research reports. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. HSBC lowered 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. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $397.64.

Trane Technologies Stock Performance

Trane Technologies stock opened at $417.49 on Friday. 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’s 50 day moving average is $394.03 and its 200 day moving average is $356.29. Trane Technologies has a twelve month low of $221.22 and a twelve month high of $421.78. The company has a market capitalization 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 (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm earned $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies will post 11.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trane Technologies

Several large investors have recently made changes to their positions in TT. MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies in the 3rd quarter worth $27,000. DT Investment Partners LLC purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies in the 3rd quarter valued at $39,000. Legacy Investment Solutions LLC purchased a new position in Trane Technologies in the 3rd quarter worth about $44,000. Finally, Fortitude Family Office LLC boosted its position in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after buying an additional 43 shares during the period. 82.97% of the stock is owned by institutional investors.

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.