Trane Technologies (NYSE:TT) Given New $365.00 Price Target at Robert W. Baird

Trane Technologies (NYSE:TT) had its price target lifted by analysts at Robert W. Baird from $360.00 to $365.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 9.19% from the company’s previous close.

A number of other equities analysts have also commented on the company. Barclays increased their price target on Trane Technologies from $380.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen lifted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Stephens raised their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, Citigroup upped their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $312.71.

Trane Technologies Trading Up 1.7 %

NYSE:TT opened at $334.28 on Thursday. The firm has a market capitalization of $75.66 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The business has a fifty day moving average price of $332.04 and a 200-day moving average price of $304.85. Trane Technologies has a one year low of $184.02 and a one year high of $351.41.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.68 EPS. Sell-side analysts forecast that Trane Technologies will post 10.49 EPS for the current year.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC lifted its position in 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 purchasing an additional 32 shares during the period. Center for Financial Planning Inc. grew its holdings in Trane Technologies by 1.7% during the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after acquiring an additional 34 shares during the period. Muirfield Wealth Advisors LLC raised its position in Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after acquiring an additional 37 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in Trane Technologies by 5.2% in the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after acquiring an additional 38 shares during the period. Finally, Simmons Bank boosted its position in Trane Technologies by 5.6% in the 2nd quarter. Simmons Bank now owns 718 shares of the company’s stock worth $236,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other 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.