Trane Technologies (NYSE:TT) Stock Rating Lowered by Melius

Trane Technologies (NYSE:TTGet Free Report) was downgraded by Melius from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $398.00 target price on the stock. Melius’ price target indicates a potential upside of 9.19% from the company’s previous close.

Several other analysts have also recently commented on TT. Mizuho boosted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $417.81.

Get Our Latest Analysis on Trane Technologies

Trane Technologies Stock Down 0.3 %

TT stock opened at $364.49 on Tuesday. Trane Technologies has a 52 week low of $250.79 and a 52 week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $392.55 and a 200-day simple moving average of $376.35. The stock has a market capitalization of $82.02 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.16 and a beta of 1.06.

Trane Technologies (NYSE:TTGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.79 EPS. Equities analysts forecast that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’s 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 transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the third quarter valued at approximately $36,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Finally, Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter worth approximately $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Trane Technologies (NYSE:TT)

Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.