UBS Group Has Lowered Expectations for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its price target dropped by equities researchers at UBS Group from $544.00 to $520.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 30.76% from the company’s current price.

Other analysts also recently issued reports about the stock. Citigroup upped their price objective on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Barclays lifted their price objective on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $467.80.

Trane Technologies Stock Performance

NYSE:TT traded down $0.32 during trading hours on Monday, reaching $397.68. The stock had a trading volume of 369,648 shares, compared to its average volume of 785,437. The stock has a market cap of $88.18 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 2.02 and a beta of 1.21. The stock has a 50 day simple moving average of $410.04 and a 200 day simple moving average of $420.45. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts forecast that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Trane Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in Trane Technologies during the 2nd quarter worth approximately $1,356,065,000. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after purchasing an additional 1,220,388 shares during the last quarter. Nordea Investment Management AB boosted its stake in Trane Technologies by 89.1% during the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after purchasing an additional 1,157,405 shares during the period. Finally, ABN AMRO Bank N.V. purchased a new position in Trane Technologies during the 2nd quarter worth $291,206,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.