Wells Fargo & Company Cuts Trane Technologies (NYSE:TT) Price Target to $375.00

Trane Technologies (NYSE:TT) had its price target reduced by Wells Fargo & Company from $415.00 to $375.00 in a research report report published on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Several other research firms also recently weighed in on TT. Citigroup upped their price target on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Barclays raised their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $469.40.

Trane Technologies Trading Up 1.3%

Shares of TT stock opened at $390.33 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. The stock has a fifty day simple moving average of $415.37 and a two-hundred day simple moving average of $422.71. The firm has a market capitalization of $86.55 billion, a PE ratio of 30.03, a PEG ratio of 2.25 and a beta of 1.19. Trane Technologies has a 52-week low of $298.15 and a 52-week high of $476.18.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the company posted $3.37 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, analysts predict that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s payout ratio is 28.92%.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies during the 2nd quarter valued at approximately $26,000. Financial Consulate Inc. purchased a new position in Trane Technologies during the third quarter worth $25,000. Ameriflex Group Inc. bought a new position in Trane Technologies during the second quarter valued at $28,000. Hantz Financial Services Inc. raised its stake in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Finally, United Community Bank raised its stake in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.