Trane Technologies’ (TT) Hold Rating Reiterated at Melius Research

Melius Research reaffirmed their hold rating on shares of Trane Technologies (NYSE:TT) in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has a $398.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Mizuho boosted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average target price of $417.81.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $366.12 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $391.62 and its 200-day moving average is $376.27. The firm has a market capitalization of $82.38 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies has a twelve month low of $250.79 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Sell-side analysts forecast that Trane Technologies will post 11.16 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on 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 approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its position in shares of Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its position in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth $468,000. HB Wealth Management LLC raised its stake in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the period. Finally, GDS Wealth Management grew its holdings in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after buying an additional 2,124 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Company Profile

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.