Melius Research Reiterates “Hold” Rating for Trane Technologies (NYSE:TT)

Trane Technologies (NYSE:TT)‘s stock had its “hold” rating reissued by research analysts at Melius Research in a report released on Tuesday,Benzinga reports. They currently have a $398.00 price target on the stock. Melius Research’s price target indicates a potential upside of 9.19% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. Wells Fargo & Company cut their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $417.81.

Trane Technologies Stock Down 0.3 %

Shares of TT opened at $364.49 on Tuesday. The firm has a 50 day simple moving average of $392.55 and a two-hundred day simple moving average of $376.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies has a one year low of $250.79 and a one year high of $422.00. The company has a market cap 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:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.79 EPS. Research analysts forecast that Trane Technologies will post 11.16 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Point Inc. increased its position in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after purchasing an additional 27 shares in the last quarter. First Pacific Financial raised its stake in shares of Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC raised its stake in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares during the last quarter. Finally, Greenleaf Trust lifted its holdings in shares of Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares in the last quarter. 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.