Citigroup Increases Trane Technologies (NYSE:TT) Price Target to $513.00

Trane Technologies (NYSE:TT) had its price target hoisted by Citigroup from $494.00 to $513.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 14.27% from the stock’s previous close.

TT has been the topic of several other research reports. Wells Fargo & Company upped their target price on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group boosted their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Barclays dropped their price objective on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $466.50.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $448.95 on Friday. Trane Technologies has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market cap of $99.90 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.66 and a beta of 1.12. The company has a 50 day moving average of $417.33 and a 200 day moving average of $418.93.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the company posted $3.37 earnings per share. The company’s revenue for the quarter 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. As a group, sell-side analysts forecast that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer owned 123,713 shares of the company’s stock, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Trane Technologies during the 2nd quarter valued at $1,356,065,000. Nuveen LLC purchased a new position in shares of Trane Technologies in the first quarter valued at about $877,468,000. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 245.1% in the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after acquiring an additional 1,522,933 shares during the period. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Trane Technologies by 229.3% during 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 period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.