Trane Technologies (NYSE:TT) Receives “Hold” Rating from Melius Research

Trane Technologies (NYSE:TT)‘s stock had its “hold” rating reaffirmed by stock analysts at Melius Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $398.00 target price on the stock. Melius Research’s target price would suggest a potential upside of 9.14% from the company’s previous close.

TT has been the topic of several other research reports. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average target price of $417.81.

Trane Technologies Stock Down 0.8 %

NYSE TT traded down $2.94 during trading hours on Tuesday, hitting $364.68. The company’s stock had a trading volume of 1,222,567 shares, compared to its average volume of 1,335,406. Trane Technologies has a 52 week low of $250.77 and a 52 week high of $422.00. The company has a market capitalization of $82.06 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. 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’s 50-day simple moving average is $393.50 and its two-hundred day simple moving average is $376.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter last year, the firm earned $2.79 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts anticipate that Trane Technologies will post 11.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Institutional Trading of Trane Technologies

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after acquiring an additional 671,691 shares during the last quarter. FMR LLC increased its position in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares during the period. Nordea Investment Management AB increased its position in shares of Trane Technologies by 42.9% during the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Trane Technologies by 76.9% during the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after buying an additional 181,335 shares during the period. 82.97% of the stock is owned by institutional investors.

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.