Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Citigroup Analyst Says

Trane Technologies (NYSE:TT) had its price target lifted by investment analysts at Citigroup from $415.00 to $445.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 11.34% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Robert W. Baird upped their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays reduced their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $421.07.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $399.68 on Thursday. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $422.00. The firm’s 50-day moving average price is $344.26 and its two-hundred day moving average price is $372.20. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock 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 released 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 firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. On average, equities analysts predict that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This represents a 49.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,805 shares of company stock worth $3,945,082. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds have recently made changes to their positions in the business. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the fourth quarter valued at $26,000. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $26,000. WFA Asset Management Corp raised its holdings in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $28,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the first quarter worth approximately $31,000. 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.