Brokerages Set Trane Technologies plc (NYSE:TT) PT at $343.54

Shares of Trane Technologies plc (NYSE:TT) have earned an average rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $343.54.

Several research firms have weighed in on TT. UBS Group upped their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company boosted their target price on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Institutional investors have recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Trane Technologies during the 1st quarter valued at $206,211,000. TD Asset Management Inc raised its holdings in shares of Trane Technologies by 719.8% during the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares during the period. Putnam Investments LLC boosted its position in shares of Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after purchasing an additional 570,679 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after buying an additional 417,120 shares during the period. Finally, Kodai Capital Management LP bought a new stake in Trane Technologies in the 4th quarter valued at about $77,615,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.9 %

Shares of NYSE TT opened at $384.93 on Thursday. The stock has a market capitalization of $87.13 billion, a P/E ratio of 41.13, a PEG ratio of 2.45 and a beta of 1.01. The stock’s fifty day moving average is $344.77 and its 200 day moving average is $325.74. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $387.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the firm earned $2.68 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts forecast that Trane Technologies will post 10.87 earnings per share for the current fiscal year.

Trane Technologies Company Profile

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.