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Trane Technologies plc (TT) - free report >>
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Trane Technologies plc (TT) - free report >>
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Why Investors Should Retain Trane Technologies (TT) Stock Now
Shares of Trane Technologies plc (TT - Free Report) have gained 23.9% over the past three months, outperforming the 10.9% rally of the industry it belongs to. TT’s earnings are anticipated to grow 17.9% and 9% in 2022 and 2023, respectively.
Factors That Augur Well
Trane Technologies has a consistent record of rewarding its shareholders through dividend payments and share repurchases. In 2021, 2020 and 2019, TT repurchased shares worth $1.10 billion, $250 million and $750.1 million, respectively. It paid out $561.1 million, $507.3 million and $510.1 million in dividends in 2021, 2020 and 2019, respectively. Such moves indicate TT’s commitment to boosting its shareholder value and highlight its confidence in its business.
TT continues to pursue its broader growth objectives by focusing on steps to increase its revenue streams from parts, services, controls, used equipment and rentals. Also, Trane Technologies is focused on improving the quality of its products and services, and operating efficiencies to achieve a sustained improvement in earnings and cash flow.
Trane Technologies plc Revenue (TTM)
Trane Technologies plc revenue-ttm | Trane Technologies plc Quote
Some Risks
Trane Technologies’ current ratio at the end of third-quarter 2022 was 1.14, lower than the current ratio of 1.62 reported at the end of the prior-year quarter. A decline in the current ratio is not desirable as it indicates that the company may have problems meeting its short-term debt obligations.
Zacks Rank and Stocks to Consider
Trane Technologies currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are DocuSign, Inc. (DOCU - Free Report) and Sprinklr, Inc. (CXM - Free Report) .
DocuSign currently sports a Zacks Rank #1 (Strong Buy). DOCU has a long-term earnings growth expectation of 13.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DOCU delivered a trailing four-quarter earnings surprise of 6.6% on average.
Sprinklr carries a Zacks Rank #2 (Buy) at present. CXM has a long-term earnings growth expectation of 30%.
Sprinklr delivered a trailing four-quarter earnings surprise of 102.8% on average.