Trane Technologies (NYSE:TT) Price Target Raised to $395.00

Trane Technologies (NYSE:TT) had its price objective upped by stock analysts at Royal Bank of Canada from $390.00 to $395.00 in a report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 3.64% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Citigroup raised their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, December 9th. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $413.14.

Trane Technologies Price Performance

TT opened at $381.11 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies has a 1-year low of $236.33 and a 1-year high of $422.00. The company has a 50-day moving average of $396.48 and a 200-day moving average of $369.78. The company has a market capitalization of $85.76 billion, a P/E ratio of 35.35, a PEG ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the company posted $2.79 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Trane Technologies will post 11.13 EPS for the current fiscal year.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Ritholtz Wealth Management grew its position in Trane Technologies by 12.5% during the second quarter. Ritholtz Wealth Management now owns 1,090 shares of the company’s stock valued at $359,000 after purchasing an additional 121 shares in the last quarter. Simon Quick Advisors LLC increased its stake in shares of Trane Technologies by 9.7% in the second quarter. Simon Quick Advisors LLC now owns 800 shares of the company’s stock worth $263,000 after acquiring an additional 71 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Trane Technologies by 9.4% in the second quarter. Foundations Investment Advisors LLC now owns 755 shares of the company’s stock worth $248,000 after acquiring an additional 65 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Trane Technologies by 2,003.8% during the second quarter. Larson Financial Group LLC now owns 1,115 shares of the company’s stock worth $367,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in Trane Technologies by 15.6% during the second quarter. Kornitzer Capital Management Inc. KS now owns 4,625 shares of the company’s stock valued at $1,521,000 after purchasing an additional 625 shares during the last quarter. Institutional investors and hedge funds 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.