Trane Technologies (NYSE:TT) Downgraded to “Hold” Rating by HSBC

Trane Technologies (NYSE:TT) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Thursday, FinViz reports. They currently have a $405.00 price target on the stock. HSBC’s price objective would indicate a potential upside of 7.85% from the company’s previous close.

Several other research analysts have also issued reports on TT. Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Barclays increased their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $376.00.

Trane Technologies Trading Down 3.9 %

NYSE TT opened at $375.52 on Thursday. The stock has a market cap of $85.00 billion, a P/E ratio of 40.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. Trane Technologies has a fifty-two week low of $186.24 and a fifty-two week high of $406.96. The stock has a 50 day simple moving average of $376.97 and a two-hundred day simple moving average of $344.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the business earned $2.68 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts forecast that Trane Technologies will post 10.89 earnings per share for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Trust Point Inc. increased its position in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares during the last quarter. First Pacific Financial boosted its stake in shares of Trane Technologies by 1.1% during the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after purchasing an additional 28 shares during the period. Greenleaf Trust raised its position in Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares during the period. Lake Street Advisors Group LLC lifted its stake in Trane Technologies by 1.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock worth $737,000 after purchasing an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its position in shares of Trane Technologies by 4.7% during the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares during the period. 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.