Trane Technologies plc [NYSE: TT] gained 12.19% or 23.19 points to close at $213.50 with a heavy trading volume of 3671610 shares. The company report on November 1, 2023 at 6:30 AM that Trane Technologies Reports Strong Results and Raises 2023 Revenue and EPS Guidance.
Highlights (third-quarter 2023 versus third-quarter 2022, unless otherwise noted):.
Reported revenues of $4.9 billion, up 12 percent; organic revenues* up 9 percent.
It opened the trading session at $200.57, the shares rose to $214.78 and dropped to $200.00, the range by which the price of stock traded the whole day. The daily chart for TT points out that the company has recorded 20.12% gains over the past six months. However, it is still -35.05% lower than its most recent low trading price.
If we look at the average trading volume of 1.12M shares, TT reached to a volume of 3671610 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Trane Technologies plc [TT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TT shares is $219.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TT stock is a recommendation set at 2.54. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Trane Technologies plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 06, 2023.
The Average True Range (ATR) for Trane Technologies plc is set at 6.52, with the Price to Sales ratio for TT stock in the period of the last 12 months amounting to 2.90. The Price to Book ratio for the last quarter was 7.79, with the Price to Cash per share for the same quarter was set at 2.91. Price to Free Cash Flow for TT in the course of the last twelve months was 32.90 with Quick ratio for the last quarter at 0.77.
Trading performance analysis for TT stock
Trane Technologies plc [TT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.77. With this latest performance, TT shares gained by 8.78% in over the last four-week period, additionally plugging by 20.12% over the last 6 months – not to mention a rise of 33.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TT stock in for the last two-week period is set at 64.44, with the RSI for the last a single of trading hit 71.41, and the three-weeks RSI is set at 60.67 for Trane Technologies plc [TT]. The present Moving Average for the last 50 days of trading for this stock 200.79, while it was recorded at 192.80 for the last single week of trading, and 188.26 for the last 200 days.
Trane Technologies plc [TT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Trane Technologies plc [TT] shares currently have an operating margin of +15.32 and a Gross Margin at +31.11. Trane Technologies plc’s Net Margin is presently recorded at +11.12.
Return on Total Capital for TT is now 21.33, given the latest momentum, and Return on Invested Capital for the company is 16.75. Return on Equity for this stock inclined to 28.81, with Return on Assets sitting at 9.84. When it comes to the capital structure of this company, Trane Technologies plc [TT] has a Total Debt to Total Equity ratio set at 87.14. Additionally, TT Total Debt to Total Capital is recorded at 46.56, with Total Debt to Total Assets ending up at 29.34. Long-Term Debt to Equity for the company is recorded at 67.37, with the Long-Term Debt to Total Capital now at 36.00.
Reflecting on the efficiency of the workforce at the company, Trane Technologies plc [TT] managed to generate an average of $45,590 per employee. Receivables Turnover for the company is 5.74 with a Total Asset Turnover recorded at a value of 0.88.Trane Technologies plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.77 and a Current Ratio set at 1.19.
Trane Technologies plc [TT]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Trane Technologies plc go to 12.91%.
An analysis of Institutional ownership at Trane Technologies plc [TT]
The top three institutional holders of TT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in TT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in TT stock with ownership which is approximately 5.7994%.