Trane Technologies (NYSE:TT) Given “Equal Weight” Rating at Stephens

Trane Technologies (NYSE:TT)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Stephens in a research note issued to investors on Monday, Benzinga reports. They currently have a $350.00 target price on the stock. Stephens’ price target would indicate a potential upside of 10.50% from the company’s previous close.

TT has been the topic of a number of other research reports. Mizuho upped their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Price Performance

NYSE:TT traded down $1.72 on Monday, reaching $316.73. 999,408 shares of the company’s stock traded hands, compared to its average volume of 1,130,533. The firm has a market cap of $71.48 billion, a PE ratio of 33.74, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock has a 50-day simple moving average of $331.66 and a 200-day simple moving average of $306.41. Trane Technologies has a 12 month low of $184.02 and a 12 month high of $351.41.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the company posted $2.68 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Trane Technologies will post 10.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 $19,532,240.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction that occurred on 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 directly owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. 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 modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after purchasing an additional 174,251 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after acquiring an additional 80,536 shares during the last quarter. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter worth $655,804,000. Capital World Investors raised its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Trane Technologies by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock valued at $403,766,000 after purchasing an additional 243,996 shares during the period. 82.97% of the stock is owned by hedge funds and other 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.