Barclays Cuts Trane Technologies (NYSE:TT) Price Target to $485.00

Trane Technologies (NYSE:TT) had its price objective lowered by Barclays from $495.00 to $485.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Morgan Stanley increased their price objective on Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Royal Bank Of Canada lifted their price target on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price target on Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, UBS Group lifted their price target on Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $457.40.

Trane Technologies Price Performance

Shares of NYSE TT opened at $402.79 on Tuesday. The stock has a fifty day simple moving average of $429.03 and a two-hundred day simple moving average of $400.91. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $476.18. The firm has a market cap of $89.62 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the company earned $3.30 earnings per share. Trane Technologies’s revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current year.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares in the company, valued at approximately $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TT. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in Trane Technologies by 168.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,170 shares of the company’s stock valued at $1,171,000 after purchasing an additional 1,990 shares during the period. Strategic Wealth Partners Ltd. increased its holdings in Trane Technologies by 64.1% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 911 shares of the company’s stock valued at $329,000 after purchasing an additional 356 shares during the period. State of Wyoming increased its holdings in Trane Technologies by 79.8% during the 4th quarter. State of Wyoming now owns 989 shares of the company’s stock valued at $365,000 after purchasing an additional 439 shares during the period. Finally, Twinbeech Capital LP purchased a new position in Trane Technologies during the 4th quarter valued at about $4,459,000. 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.