Barclays Boosts Trane Technologies (NYSE:TT) Price Target to $385.00

Trane Technologies (NYSE:TT) had its price target boosted by equities researchers at Barclays from $380.00 to $385.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 12.89% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a research report on Wednesday. Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group lifted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $311.21.

Trane Technologies Stock Performance

TT stock opened at $341.05 on Wednesday. The stock has a market cap of $77.20 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.58 and a beta of 1.01. The firm has a 50 day simple moving average of $329.82 and a 200 day simple moving average of $295.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $345.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. Research analysts anticipate that Trane Technologies will post 10.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TT. GoalVest Advisory LLC lifted its holdings in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies in the first quarter worth about $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies in the first quarter worth about $30,000. BKM Wealth Management LLC bought a new position in shares of Trane Technologies in the fourth quarter worth about $25,000. Finally, Sachetta LLC bought a new position in shares of Trane Technologies in the fourth quarter worth about $27,000. Institutional investors 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.