Trane Technologies (NYSE:TT) Price Target Raised to $395.00

Trane Technologies (NYSE:TT) had its price target hoisted by equities research analysts at Royal Bank of Canada from $390.00 to $395.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 3.97% from the company’s current price.

A number of other analysts have also commented on TT. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research note on Thursday, October 31st. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Citigroup increased their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Finally, Barclays lifted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $413.14.

Trane Technologies Trading Up 1.6 %

NYSE:TT traded up $6.07 during trading hours on Friday, hitting $379.91. The company had a trading volume of 354,906 shares, compared to its average volume of 1,092,591. The stock has a 50-day moving average price of $396.71 and a 200 day moving average price of $369.46. Trane Technologies has a 52 week low of $236.33 and a 52 week high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market capitalization of $85.49 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the business posted $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies will post 11.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on 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 sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Institutional Trading of Trane Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in Trane Technologies by 12.5% in the 2nd quarter. Ritholtz Wealth Management now owns 1,090 shares of the company’s stock worth $359,000 after acquiring an additional 121 shares in the last quarter. Simon Quick Advisors LLC boosted its holdings in Trane Technologies by 9.7% in the 2nd quarter. Simon Quick Advisors LLC now owns 800 shares of the company’s stock worth $263,000 after buying an additional 71 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in Trane Technologies by 9.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 755 shares of the company’s stock worth $248,000 after buying an additional 65 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Trane Technologies by 2,003.8% during the second quarter. Larson Financial Group LLC now owns 1,115 shares of the company’s stock valued at $367,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Trane Technologies by 15.6% in the second quarter. Kornitzer Capital Management Inc. KS now owns 4,625 shares of the company’s stock valued at $1,521,000 after acquiring an additional 625 shares in the last quarter. 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.