Trane Technologies (NYSE:TT – Get Free Report) was downgraded by equities researchers at Melius from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $398.00 price objective on the stock. Melius’ price objective suggests a potential upside of 9.19% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research report on Thursday, October 31st. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays boosted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group raised their target price 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. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $417.81.
Read Our Latest Analysis on Trane Technologies
Trane Technologies Price Performance
Trane Technologies (NYSE:TT – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for 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%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.79 EPS. Sell-side analysts forecast that Trane Technologies will post 11.16 EPS for the current fiscal year.
Insider Activity
In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies 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 sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in TT. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the 4th quarter valued at $26,000. DT Investment Partners LLC purchased a new stake in Trane Technologies during the third quarter worth $36,000. Sound Income Strategies LLC grew its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the third quarter valued at $39,000. Hedge funds and other institutional investors 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.
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