Wells Fargo & Company Boosts Trane Technologies (NYSE:TT) Price Target to $295.00

Trane Technologies (NYSE:TT) had its target price increased by equities researchers at Wells Fargo & Company from $281.00 to $295.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 6.17% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. 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 research report on Wednesday. Stephens upped their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Wednesday. Robert W. Baird upped their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Barclays increased their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $292.15.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $0.58 on Thursday, reaching $314.40. 208,976 shares of the stock were exchanged, compared to its average volume of 1,020,979. The firm’s 50 day moving average is $294.39 and its 200-day moving average is $256.74. Trane Technologies has a one year low of $162.04 and a one year high of $327.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. The firm has a market cap of $71.23 billion, a PE ratio of 33.53, a P/E/G ratio of 2.61 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. As a group, analysts anticipate that Trane Technologies will post 10.49 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock worth $8,024,534 over the last quarter. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds have recently bought and sold shares of TT. Commonwealth Equity Services LLC lifted its position in Trane Technologies by 1.9% during the third quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock valued at $8,442,000 after purchasing an additional 793 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Trane Technologies by 17.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock worth $2,110,000 after acquiring an additional 1,518 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $215,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Trane Technologies by 2.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company’s stock worth $931,000 after acquiring an additional 117 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Trane Technologies by 5.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,328 shares of the company’s stock worth $270,000 after acquiring an additional 66 shares during the last quarter. 82.97% of the stock is currently 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.