Trane Technologies (NYSE:TT) Price Target Lowered to $476.00 at Citigroup

Trane Technologies (NYSE:TT) had its price objective lowered by Citigroup from $478.00 to $476.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada raised their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. 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 initiated coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $414.43.

Trane Technologies Trading Down 0.1 %

Trane Technologies stock opened at $376.88 on Monday. Trane Technologies has a 52 week low of $242.81 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The firm has a market capitalization of $84.81 billion, a PE ratio of 34.96, a PEG ratio of 2.38 and a beta of 1.06. The business’s 50-day simple moving average is $396.63 and its 200-day simple moving average is $372.12.

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

Insider Transactions at Trane Technologies

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

Institutional Investors Weigh In On Trane Technologies

Several hedge funds have recently added to or reduced their stakes in TT. Oppenheimer & Co. Inc. grew its holdings in Trane Technologies by 3.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,079 shares of the company’s stock worth $2,986,000 after acquiring an additional 282 shares during the period. Parallel Advisors LLC boosted its position in shares of Trane Technologies by 16.4% during the second quarter. Parallel Advisors LLC now owns 2,468 shares of the company’s stock valued at $812,000 after buying an additional 348 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of Trane Technologies by 1.3% in the 2nd quarter. Wealthspire Advisors LLC now owns 3,002 shares of the company’s stock worth $987,000 after acquiring an additional 39 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Trane Technologies during the 2nd quarter worth approximately $225,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Trane Technologies by 8.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,629 shares of the company’s stock valued at $102,833,000 after purchasing an additional 23,376 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.