Barclays Issues Positive Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its target price boosted by research analysts at Barclays from $425.00 to $440.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 19.86% from the company’s current price.

Several other brokerages also recently weighed in on TT. Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. HSBC lowered shares of 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. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley initiated coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. Finally, Mizuho boosted their price target 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $380.15.

Trane Technologies Price Performance

NYSE TT traded down $8.41 during mid-day trading on Thursday, hitting $367.11. The stock had a trading volume of 1,166,717 shares, compared to its average volume of 1,099,638. Trane Technologies has a 52-week low of $186.24 and a 52-week high of $406.96. The company has a market cap of $83.10 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 2.70 and a beta of 1.01. The company has a 50 day simple moving average of $376.97 and a 200 day simple moving average of $344.61. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that Trane Technologies will post 10.89 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

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

Hedge Funds Weigh In On Trane Technologies

Hedge funds have recently made changes to their positions in the business. Norden Group LLC bought a new stake in Trane Technologies in the first quarter valued at $646,000. J.W. Cole Advisors Inc. raised its stake in shares of Trane Technologies by 10.6% in the first quarter. J.W. Cole Advisors Inc. now owns 1,680 shares of the company’s stock valued at $505,000 after acquiring an additional 161 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Trane Technologies by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock worth $2,504,000 after acquiring an additional 334 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Trane Technologies during the 1st quarter worth approximately $215,000. Finally, Mission Wealth Management LP boosted its stake in Trane Technologies by 14.4% in the first quarter. Mission Wealth Management LP now owns 2,125 shares of the company’s stock worth $638,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds 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.