Wells Fargo & Company Lowers Trane Technologies (NYSE:TT) Price Target to $380.00

Trane Technologies (NYSE:TT) had its target price cut by research analysts at Wells Fargo & Company from $390.00 to $380.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 1.60% from the company’s current price.

Other analysts have also recently issued reports about the stock. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group increased their target price 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. UBS Group started coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. Finally, Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $414.57.

Trane Technologies Price Performance

TT opened at $386.19 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. Trane Technologies has a 52-week low of $240.51 and a 52-week high of $422.00. The company has a 50 day moving average of $396.29 and a two-hundred day moving average of $370.89. The company has a market cap of $86.90 billion, a P/E ratio of 35.82, a P/E/G ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 earnings per share. On average, analysts expect that Trane Technologies will post 11.13 earnings per share for the current year.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank increased its stake in Trane Technologies by 5.0% during the 4th quarter. First Hawaiian Bank now owns 19,556 shares of the company’s stock worth $7,223,000 after purchasing an additional 923 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Trane Technologies by 90.3% in the 4th quarter. Douglas Lane & Associates LLC now owns 1,199 shares of the company’s stock valued at $443,000 after buying an additional 569 shares during the last quarter. Sterneck Capital Management LLC raised its stake in Trane Technologies by 62.0% in the 4th quarter. Sterneck Capital Management LLC now owns 1,045 shares of the company’s stock valued at $386,000 after acquiring an additional 400 shares during the period. Diversified Trust Co increased its position in Trane Technologies by 58.7% during the 4th quarter. Diversified Trust Co now owns 5,253 shares of the company’s stock worth $1,941,000 after buying an additional 1,943 shares during the period. Finally, Bank of New Hampshire increased its position in Trane Technologies by 27.3% during the 4th quarter. Bank of New Hampshire now owns 5,709 shares of the company’s stock worth $2,109,000 after buying an additional 1,226 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.