Brokerages Set Trane Technologies plc (NYSE:TT) PT at $420.64

Trane Technologies plc (NYSE:TT) has earned an average rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $420.64.

TT has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. HSBC downgraded 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. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays upped their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

Trane Technologies Trading Up 0.1 %

Shares of TT stock opened at $400.88 on Wednesday. The company has a market capitalization of $90.21 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.16 and a beta of 1.06. Trane Technologies has a 12-month low of $250.06 and a 12-month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $394.49 and a 200 day moving average price of $375.03.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. 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 previous year, the firm earned $2.79 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Research analysts forecast that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

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 completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TT. Pacer Advisors Inc. grew its holdings in shares of Trane Technologies by 3.3% during the second quarter. Pacer Advisors Inc. now owns 18,415 shares of the company’s stock worth $6,057,000 after buying an additional 583 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Trane Technologies by 5.1% in the second quarter. ProShare Advisors LLC now owns 36,730 shares of the company’s stock valued at $12,082,000 after purchasing an additional 1,790 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in shares of Trane Technologies by 5.3% in the second quarter. Fidelis Capital Partners LLC now owns 980 shares of the company’s stock worth $317,000 after purchasing an additional 49 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Trane Technologies by 7.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 996 shares of the company’s stock worth $333,000 after buying an additional 68 shares during the last quarter. Finally, Certified Advisory Corp bought a new position in Trane Technologies in the second quarter valued at approximately $239,000. 82.97% of the stock is currently owned by institutional investors.

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.