Trane Technologies (NYSE:TT) Lowered to Hold Rating by Hsbc Global Res

Trane Technologies (NYSE:TT) was downgraded by Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other research firms have also recently commented on TT. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Stephens restated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley initiated coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $380.15.

Trane Technologies Trading Up 1.6 %

TT opened at $376.15 on Thursday. Trane Technologies has a one year low of $211.31 and a one year high of $406.96. The stock has a market capitalization of $84.89 billion, a PE ratio of 34.89, a P/E/G ratio of 2.59 and a beta of 1.01. The business’s 50 day moving average price is $377.83 and its 200 day moving average price is $345.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm posted $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies will post 10.89 EPS for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated 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 in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds have recently made changes to their positions in the business. Assetmark Inc. boosted its stake in shares of Trane Technologies by 1.8% during the third quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock worth $7,309,000 after buying an additional 327 shares during the period. Verdence Capital Advisors LLC lifted its position in Trane Technologies by 5.0% in the third quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company’s stock valued at $529,000 after purchasing an additional 65 shares during the period. SpiderRock Advisors LLC lifted its position in Trane Technologies by 9.4% in the third quarter. SpiderRock Advisors LLC now owns 5,795 shares of the company’s stock valued at $2,253,000 after purchasing an additional 496 shares during the period. CWA Asset Management Group LLC acquired a new stake in Trane Technologies in the third quarter valued at about $386,000. Finally, Equitable Trust Co. acquired a new stake in Trane Technologies in the third quarter valued at about $220,000. 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.