Royal Bank Of Canada Forecasts Strong Price Appreciation for Trane Technologies (NYSE:TT) Stock

Trane Technologies (NYSE:TT) had its price objective increased by analysts at Royal Bank Of Canada from $467.00 to $469.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 4.47% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target 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. UBS Group upped their price target on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock 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 given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $466.50.

Trane Technologies Stock Performance

Shares of TT stock 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 stock has a market cap of $99.90 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12. 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 company’s fifty day moving average price is $417.33 and its 200-day moving average price is $418.93.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the business posted $3.37 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities analysts expect that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Activity

In other news, CEO David S. Regnery sold 22,497 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction 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 represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total transaction of $264,000.00. Following the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Trane Technologies by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock valued at $8,657,398,000 after purchasing an additional 335,634 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. State Street Corp increased its holdings in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC increased its holdings in Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after acquiring an additional 56,293 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock worth $1,208,044,000 after acquiring an additional 241,910 shares in the last quarter. 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.