Wells Fargo & Company Lowers Trane Technologies (NYSE:TT) Price Target to $360.00

Trane Technologies (NYSE:TT) had its price objective dropped by investment analysts at Wells Fargo & Company from $380.00 to $360.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 0.68% from the stock’s current price.

TT has been the subject of several other research reports. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Royal Bank of Canada upped their price target 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. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Northcoast Research began coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Finally, Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

Shares of NYSE TT opened at $362.47 on Friday. Trane Technologies has a twelve month low of $250.79 and a twelve month high of $422.00. The company 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. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The business has a 50 day simple moving average of $389.53 and a 200-day simple moving average of $376.35.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. As a group, equities research analysts expect that Trane Technologies will post 11.16 earnings per share for the current 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 completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in Trane Technologies in the 3rd quarter valued at $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the 3rd quarter valued at $36,000. Sound Income Strategies LLC boosted its position in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Trane Technologies in the 2nd quarter worth $39,000. 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.