Trane Technologies (NYSE:TT) Price Target Increased to $425.00 by Analysts at Barclays

Trane Technologies (NYSE:TT) had its price target lifted by investment analysts at Barclays from $394.00 to $425.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 9.54% from the company’s previous close.

TT has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $345.92.

Trane Technologies Stock Up 0.4 %

Shares of Trane Technologies stock traded up $1.37 on Wednesday, hitting $388.00. 363,338 shares of the company’s stock traded hands, compared to its average volume of 1,108,529. The firm’s 50-day moving average is $351.56 and its 200 day moving average is $330.90. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $391.94. The stock has a market cap of $87.82 billion, a P/E ratio of 41.49, a PEG ratio of 2.68 and a beta of 1.01. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced 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. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. Equities analysts anticipate that Trane Technologies will post 10.87 earnings per share for the current year.

Insider Activity at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on 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 directly 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 can be accessed through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TT. Swedbank AB purchased a new position in shares of Trane Technologies in the 1st quarter valued at about $206,211,000. Putnam Investments LLC grew its holdings in Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after purchasing an additional 570,679 shares during the period. 1832 Asset Management L.P. raised its position 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 worth $139,067,000 after buying an additional 417,120 shares during the period. TD Asset Management Inc lifted its stake in shares of Trane Technologies by 41.2% in the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after purchasing an additional 309,738 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.