Wells Fargo & Company Cuts Trane Technologies (NYSE:TT) Price Target to $360.00

Trane Technologies (NYSE:TT) had its price target decreased by Wells Fargo & Company from $380.00 to $360.00 in a research report report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Citigroup cut their target price on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. 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 research note on Friday, January 3rd. Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. Finally, Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $362.47 on Friday. Trane Technologies has a 52 week low of $250.79 and a 52 week high of $422.00. The firm has a market cap of $81.56 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.96 and a beta of 1.06. 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 business’s 50-day simple moving average is $389.53 and its 200-day simple moving average is $376.56.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. As a group, equities research analysts expect that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the 3rd quarter worth approximately $27,000. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the fourth quarter worth $26,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the third quarter worth $36,000. Sound Income Strategies LLC lifted its stake in shares of 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 acquiring an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. bought a new position in Trane Technologies in the third quarter valued at about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.