The Goldman Sachs Group Boosts Trane Technologies (NYSE:TT) Price Target to $326.00

Trane Technologies (NYSE:TT) had its price objective increased by investment analysts at The Goldman Sachs Group from $287.00 to $326.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 2.90% from the company’s current price.

Several other research analysts have also issued reports on TT. Stephens upped their price target on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays boosted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup increased their price target on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird raised their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Trading Up 0.6 %

Shares of Trane Technologies stock opened at $316.80 on Wednesday. The business has a fifty day simple moving average of $295.08 and a 200-day simple moving average of $257.16. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $327.09. The firm has a market cap of $71.78 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. On average, equities analysts forecast that Trane Technologies will post 10.49 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 in the last quarter. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently bought and sold shares of TT. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth about $208,000. Commonwealth Equity Services LLC lifted its holdings in Trane Technologies by 1.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock worth $8,442,000 after purchasing an additional 793 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Trane Technologies by 17.1% during the third quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock worth $2,110,000 after purchasing an additional 1,518 shares during the period. Dakota Wealth Management bought a new position in shares of Trane Technologies in the third quarter valued at approximately $215,000. Finally, Birchcreek Wealth Management LLC acquired a new stake in shares of Trane Technologies in the third quarter worth $203,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.