Trane Technologies (NYSE:TT) Cut to “Hold” at Melius

Melius downgraded shares of Trane Technologies (NYSE:TT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have $398.00 price target on the stock.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup decreased their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company reduced their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird dropped their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $417.81.

Trane Technologies Price Performance

TT stock opened at $366.12 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The company has a market cap 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 12-month low of $250.79 and a 12-month high of $422.00. The firm has a 50 day moving average of $391.62 and a 200-day moving average of $376.27.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data 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%. As a group, equities analysts expect that Trane Technologies will post 11.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of institutional investors have recently modified their holdings of TT. FMR LLC grew its position in Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. State Street Corp boosted its position in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after acquiring an additional 77,830 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Trane Technologies by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after acquiring an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after purchasing an additional 20,151 shares during the period. 82.97% of the stock is currently owned by institutional investors.

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.