Trane Technologies (NYSE:TT) Given New $380.00 Price Target at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective reduced by Wells Fargo & Company from $390.00 to $380.00 in a report published on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts have also recently issued research reports about the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. UBS Group assumed coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $414.57.

Trane Technologies Trading Up 1.6 %

NYSE:TT opened at $386.19 on Tuesday. The company has a market capitalization 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. The stock’s 50 day moving average price is $396.61 and its 200 day moving average price is $370.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies has a 52 week low of $240.51 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping 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 company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the business posted $2.79 EPS. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts forecast that Trane Technologies will post 11.13 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the 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 completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TT. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Trane Technologies by 7,363.1% in the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after buying an additional 417,120 shares in the last quarter. FMR LLC grew its stake in Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares in the last quarter. Institutional investors 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.