Trane Technologies plc’s TT stock has had an impressive run over the past year. TT shares have appreciated 82%, outperforming the 73% rally of the industry and the 14.3% growth of the Zacks S&P 500 composite.
What’s Driving TT Stock?
TraneTechnologies focuses on improving its business operating system, innovation and investments. TT’s strengths include differentiated customer-driven solutions and energy-efficient product installation. Supportive policies and regulations, primarily in the United States and Europe, bolster these aspects.
Trane Technologies plc Price
Trane Technologies plc price | Trane Technologies plc Quote
The company reported better-than-expected earnings performance in the past four quarters, benefiting from a strong demand situation, especially in commercial HVAC globally, acquisitions, positive price realization, volume growth, and productivity. In the third quarter of 2024, TT’s revenues and adjusted EPS increased 12% and 13.3% yearly, respectively.
Commitment to shareholder returns makes TT reliable for investors to compound wealth over the long term. In 2023, 2022, 2021 and 2020, the company repurchased shares worth $669.3 million, $1.2 billion, $1.1 billion and $250 million, respectively. It paid $683.7 million, $620 million, $561.1 million and $507.3 million in dividends in 2023, 2022, 2021 and 2020, respectively.
TransUnion's current ratio (a measure of liquidity) at the end of the third quarter of 2024 was 1.22, higher than the preceding quarter's 1.17. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
Zacks Rank and Other Key Picks
TT carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader Zacks Business Services sector are AppLovin APP & Climb Global Solutions, Inc. CLMB.
AppLovin sports a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
APP has a long-term earnings growth expectation of 20%. It delivered a trailing four-quarter earnings surprise of 26.2%, on average.
Climb Global Solutions flaunts a Zacks Rank of 1 at present. It has a long-term earnings growth expectation of 16%.
CLMB delivered a trailing four-quarter earnings surprise of 51.1%, on average.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
