JPMorgan Chase & Co. Increases Trane Technologies (NYSE:TT) Price Target to $396.00

Trane Technologies (NYSE:TT) had its price target boosted by JPMorgan Chase & Co. from $387.00 to $396.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently weighed in on TT. UBS Group assumed coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays boosted their target price 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. Mizuho increased their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $415.25.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $362.47 on Friday. The business’s 50 day simple moving average is $389.53 and its 200-day simple moving average is $376.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market capitalization of $81.56 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. Trane Technologies has a 12 month low of $250.79 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate 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 forecast that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In other Trane Technologies 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 directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds have recently made changes to their positions in the stock. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the fourth quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $36,000. Sound Income Strategies LLC raised its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares in the last quarter. Finally, Quarry LP bought a new position in Trane Technologies during the second quarter worth $39,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.