JPMorgan Chase & Co. Has Lowered Expectations for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its target price lowered by JPMorgan Chase & Co. from $390.00 to $387.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

TT has been the topic of several other research reports. Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Citigroup dropped their target price 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. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $420.64.

Trane Technologies Stock Performance

NYSE TT opened at $389.48 on Wednesday. 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 fifty-two week low of $244.11 and a fifty-two week high of $422.00. The business has a fifty day moving average of $396.21 and a 200-day moving average of $372.70. The stock has a market cap of $87.64 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $2.79 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts predict that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Large investors have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $36,000. Quarry LP acquired a new stake in Trane Technologies in the second quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.