Citigroup Issues Pessimistic Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its price target cut by analysts at Citigroup from $478.00 to $476.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 24.41% from the stock’s current price.

A number of other research analysts have also recently weighed in on TT. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barclays lifted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $414.43.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $382.60 on Monday. Trane Technologies has a 12-month low of $242.81 and a 12-month high of $422.00. The firm has a market capitalization of $86.09 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $396.47 and a 200 day moving average of $372.50.

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

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. State Street Corp boosted its position in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after buying an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after acquiring an additional 20,151 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.