Trane Technologies (NYSE:TT) Shares Gap Down on Analyst Downgrade

Trane Technologies plc (NYSE:TT) gapped down before the market opened on Tuesday after UBS Group lowered their price target on the stock from $544.00 to $520.00. The stock had previously closed at $390.97, but opened at $367.12. UBS Group currently has a buy rating on the stock. Trane Technologies shares last traded at $362.7310, with a volume of 462,873 shares trading hands.

Several other equities research analysts have also recently commented on the company. Royal Bank Of Canada increased their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Barclays boosted their price target on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Citigroup upped their price objective on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $467.80.

Insider Transactions at Trane Technologies

In other Trane Technologies news, 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 value of $264,000.00. Following the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently made changes to their positions in TT. Brighton Jones LLC increased its holdings in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Trane Technologies by 22.1% during the first quarter. Integrated Wealth Concepts LLC now owns 2,985 shares of the company’s stock worth $1,006,000 after buying an additional 541 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Trane Technologies by 350.3% in the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after buying an additional 16,485 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Trane Technologies by 39.9% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 9,900 shares of the company’s stock valued at $3,336,000 after buying an additional 2,825 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its stake in Trane Technologies by 3.3% during the 1st quarter. Signature Estate & Investment Advisors LLC now owns 1,174 shares of the company’s stock worth $396,000 after acquiring an additional 37 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 2.5%

The company has a 50 day moving average of $408.35 and a 200-day moving average of $419.98. The stock has a market cap of $84.49 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.98 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.