Barclays Boosts Trane Technologies (NYSE:TT) Price Target to $440.00

Trane Technologies (NYSE:TT) had its target price upped by investment analysts at Barclays from $425.00 to $440.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 16.97% from the company’s previous close.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group raised their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird cut their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $376.15 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.22. The stock has a 50 day moving average price of $377.83 and a 200-day moving average price of $345.36. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. Trane Technologies has a one year low of $211.31 and a one year high of $406.96.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 earnings per share. Equities analysts expect that Trane Technologies will post 10.89 EPS for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TT. Norden Group LLC purchased a new stake in Trane Technologies during the first quarter worth approximately $646,000. J.W. Cole Advisors Inc. raised its position in Trane Technologies by 10.6% during the first quarter. J.W. Cole Advisors Inc. now owns 1,680 shares of the company’s stock worth $505,000 after acquiring an additional 161 shares during the last quarter. Private Advisor Group LLC lifted its stake in Trane Technologies by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock valued at $2,504,000 after buying an additional 334 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Trane Technologies during the first quarter valued at $215,000. Finally, Mission Wealth Management LP grew its holdings in shares of Trane Technologies by 14.4% during the first quarter. Mission Wealth Management LP now owns 2,125 shares of the company’s stock worth $638,000 after buying an additional 268 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.