Citigroup Cuts Trane Technologies (NYSE:TT) Price Target to $476.00

Trane Technologies (NYSE:TT) had its price target cut by investment analysts at Citigroup from $478.00 to $476.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 24.41% from the stock’s previous close.

Several other research analysts have also recently issued reports on TT. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Northcoast Research initiated coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Barclays lifted their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company dropped their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and an average target price of $414.43.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $382.60 on Monday. The firm’s 50 day simple moving average is $396.47 and its 200-day simple moving average is $372.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies has a one year low of $242.81 and a one year high of $422.00. The firm has a market cap of $86.09 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the business posted $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts predict that Trane Technologies will post 11.13 EPS for the current year.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter valued at $26,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the third quarter valued at $36,000. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies during the 3rd quarter worth about $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Trane Technologies during the 3rd quarter valued at about $44,000. 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.