Mizuho Increases Trane Technologies (NYSE:TT) Price Target to $400.00

Trane Technologies (NYSE:TT) had its price target lifted by Mizuho from $325.00 to $400.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential downside of 0.63% from the company’s current price.

TT has been the topic of a number of other reports. Barclays boosted their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $373.58.

Trane Technologies Trading Up 0.6 %

Shares of TT stock opened at $402.54 on Thursday. The stock has a 50 day simple moving average of $369.37 and a 200 day simple moving average of $339.21. Trane Technologies has a 1 year low of $184.02 and a 1 year high of $406.96. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a market cap of $91.12 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the firm posted $2.68 EPS. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts predict that Trane Technologies will post 10.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently added to or reduced their stakes in TT. Everett Harris & Co. CA bought a new stake in Trane Technologies during the third quarter valued at about $228,000. TriaGen Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter worth about $236,000. Raymond James & Associates grew its position in shares of Trane Technologies by 3.1% during the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock worth $418,462,000 after purchasing an additional 32,079 shares in the last quarter. Blue Trust Inc. lifted its holdings in Trane Technologies by 51.8% in the 3rd quarter. Blue Trust Inc. now owns 3,870 shares of the company’s stock worth $1,504,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new position in Trane Technologies in the 3rd quarter worth approximately $743,000. 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.