Royal Bank of Canada Increases Trane Technologies (NYSE:TT) Price Target to $408.00

Trane Technologies (NYSE:TT) had its target price increased by research analysts at Royal Bank of Canada from $363.00 to $408.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 2.08% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. UBS Group lowered their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.07.

Trane Technologies Trading Up 1.8 %

Trane Technologies stock opened at $399.68 on Thursday. The company has a 50 day moving average price of $344.26 and a 200 day moving average price of $372.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $422.00. The firm has a market capitalization of $89.64 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share. Research analysts forecast that Trane Technologies will post 12.83 EPS for the current year.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,805 shares of company stock valued at $3,945,082. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp lifted its holdings in shares of Trane Technologies by 16.8% during the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $468,000. HB Wealth Management LLC increased its stake in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after purchasing an additional 6,910 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.