Wells Fargo & Company Lowers Trane Technologies (NYSE:TT) Price Target to $380.00

Trane Technologies (NYSE:TT) had its price objective lowered by equities researchers at Wells Fargo & Company from $390.00 to $380.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 1.60% from the stock’s previous close.

Several other equities analysts have also issued reports on TT. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $414.57.

Trane Technologies Stock Up 1.6 %

Shares of NYSE TT opened at $386.19 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market cap of $86.90 billion, a P/E ratio of 35.82, a PEG ratio of 2.38 and a beta of 1.06. Trane Technologies has a 1 year low of $240.51 and a 1 year high of $422.00. The firm has a 50-day simple moving average of $396.29 and a two-hundred day simple moving average of $370.89.

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

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter worth about $36,000. Quarry LP purchased a new stake in shares of Trane Technologies during the second quarter worth about $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Trane Technologies

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.