Trane Technologies (NYSE:TT) Price Target Increased to $360.00 by Analysts at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its target price lifted by Wells Fargo & Company from $320.00 to $360.00 in a research report released on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

TT has been the topic of several other research reports. Morgan Stanley assumed coverage on shares of Trane Technologies in a research note on Friday, September 6th. They set an overweight rating and a $425.00 price objective on the stock. Stephens reissued an equal weight rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a sector perform rating in a research report on Thursday, August 1st. Barclays raised their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an overweight rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird upped their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the company a neutral rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has a consensus rating of Hold and an average target price of $360.58.

Trane Technologies Stock Performance

Trane Technologies stock opened at $390.33 on Monday. Trane Technologies has a fifty-two week low of $184.02 and a fifty-two week high of $391.94. The company has a market capitalization of $88.35 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 2.68 and a beta of 1.01. The stock has a fifty day moving average of $355.12 and a two-hundred day moving average of $332.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 EPS. On average, analysts anticipate that Trane Technologies will post 10.87 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

Several large investors have recently bought and sold shares of TT. GoalVest Advisory LLC increased its holdings in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the first quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies in the first quarter valued at $30,000. Fortitude Family Office LLC boosted its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the 2nd quarter worth about $39,000. Institutional investors and hedge funds 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.