Trane Technologies (NYSE:TT) Price Target Cut to $131.00

Trane Technologies (NYSE:TTGet Rating) had its price target reduced by Wells Fargo & Company from $153.00 to $131.00 in a report released on Monday, The Fly reports. Wells Fargo & Company‘s price objective would suggest a potential downside of 2.40% from the stock’s current price.

TT has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Trane Technologies from $171.00 to $162.00 in a research report on Thursday. The Goldman Sachs Group dropped their price target on shares of Trane Technologies from $180.00 to $157.00 and set a “neutral” rating for the company in a research report on Thursday, April 7th. Mizuho dropped their price target on shares of Trane Technologies from $205.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, February 1st. Barclays dropped their price objective on shares of Trane Technologies from $205.00 to $180.00 in a research report on Thursday. Finally, Morgan Stanley dropped their price objective on shares of Trane Technologies from $217.00 to $213.00 and set an “overweight” rating for the company in a research report on Friday, January 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.63.

Shares of TT stock opened at $134.22 on Monday. Trane Technologies has a one year low of $131.48 and a one year high of $207.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.31. The company has a 50 day moving average price of $150.27 and a 200 day moving average price of $170.94. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03.

Trane Technologies (NYSE:TTGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.99 by $0.13. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Trane Technologies’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies will post 7.06 EPS for the current fiscal year.

In related news, SVP Keith A. Sultana sold 5,885 shares of the firm’s stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $160.00, for a total transaction of $941,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Jacobi Capital Management LLC increased its holdings in shares of Trane Technologies by 22.6% in the 1st quarter. Jacobi Capital Management LLC now owns 1,935 shares of the company’s stock worth $296,000 after acquiring an additional 357 shares during the period. Camden Capital LLC increased its stake in Trane Technologies by 19.4% during the 1st quarter. Camden Capital LLC now owns 2,379 shares of the company’s stock valued at $363,000 after buying an additional 386 shares during the period. Balentine LLC acquired a new position in Trane Technologies during the 1st quarter valued at about $272,000. Twin Capital Management Inc. acquired a new position in Trane Technologies during the 1st quarter valued at about $567,000. Finally, WCM Investment Management LLC increased its stake in Trane Technologies by 21.3% during the 1st quarter. WCM Investment Management LLC now owns 8,092 shares of the company’s stock valued at $1,236,000 after buying an additional 1,420 shares during the period. Institutional investors own 80.55% of the company’s stock.

Trane Technologies Company Profile (Get Rating)

Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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