Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Citigroup Analyst Says

Trane Technologies (NYSE:TT) had its price objective upped by stock analysts at Citigroup from $457.00 to $478.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 20.28% from the company’s previous close.

Several other brokerages have also issued reports on TT. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. The Goldman Sachs Group upped their price objective 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. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $409.93.

Trane Technologies Price Performance

Shares of TT stock opened at $397.42 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market capitalization of $89.43 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03. The firm’s 50-day moving average is $401.12 and its two-hundred day moving average is $362.93. Trane Technologies has a 12 month low of $233.76 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $2.79 EPS. Analysts predict that Trane Technologies will post 11.13 earnings per share for the current year.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. State Street Corp increased its position in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after buying an additional 77,830 shares during the period. Geode Capital Management LLC lifted its stake in Trane Technologies by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after buying an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after acquiring an additional 20,151 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.