Trane Technologies (NYSE:TT) Price Target Increased to $407.00 by Analysts at The Goldman Sachs Group

Trane Technologies (NYSE:TT) had its price target increased by The Goldman Sachs Group from $364.00 to $407.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 2.43% from the company’s previous close.

TT has been the topic of a number of other research reports. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $367.33.

Trane Technologies Stock Performance

TT stock traded up $0.86 during midday trading on Wednesday, reaching $397.36. The company had a trading volume of 197,782 shares, compared to its average volume of 1,099,974. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $357.64 and a 200 day moving average price of $334.14. The firm has a market capitalization of $89.94 billion, a PE ratio of 42.45, a P/E/G ratio of 2.68 and a beta of 1.01. Trane Technologies has a fifty-two week low of $184.02 and a fifty-two week high of $398.60.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts anticipate that Trane Technologies will post 10.87 earnings per share for the current year.

Insider Activity

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value 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. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

A number of hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in Trane Technologies by 138.0% in the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after purchasing an additional 3,866 shares during the period. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after buying an additional 13,078 shares during the period. Sei Investments Co. grew its holdings in shares of Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Trane Technologies during the fourth quarter valued at $3,086,000. Finally, Albar Capital Ltd purchased a new stake in Trane Technologies in the 2nd quarter worth about $14,556,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.