Trane Technologies (NYSE:TT) Cut to “Hold” at Melius

Melius cut shares of Trane Technologies (NYSE:TT) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has $398.00 price target on the stock.

A number of other equities analysts have also recently issued reports on TT. Barclays upped their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, UBS Group initiated coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $417.81.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $366.12 on Tuesday. Trane Technologies has a 12 month low of $250.79 and a 12 month high of $422.00. The stock has a 50 day moving average of $391.62 and a 200-day moving average of $376.27. 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 company has a market capitalization of $82.38 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.16 and a beta of 1.06.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. As a group, equities research analysts predict that Trane Technologies will post 11.16 EPS for the current year.

Insider Buying and Selling

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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp raised its holdings in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $468,000. HB Wealth Management LLC lifted its holdings in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, GDS Wealth Management grew its stake in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the last quarter. 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.