Trane Technologies (NYSE:TT) PT Raised to $320.00 at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective raised by stock analysts at Wells Fargo & Company from $315.00 to $320.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 6.68% from the company’s current price.

A number of other brokerages also recently issued reports on TT. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird increased their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. UBS Group boosted their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley began coverage on Trane Technologies in a research report on Friday. They issued an “overweight” rating and a $425.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $337.29.

Trane Technologies Trading Down 1.0 %

Shares of NYSE:TT opened at $342.91 on Friday. The company has a market cap of $77.62 billion, a PE ratio of 36.64, a P/E/G ratio of 2.51 and a beta of 1.01. The company’s 50 day moving average is $338.21 and its two-hundred day moving average is $319.22. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $363.15. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.68 earnings per share. Equities analysts predict that Trane Technologies will post 10.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $655,804,000. Swedbank AB acquired a new stake in Trane Technologies in the 1st quarter worth about $206,211,000. TD Asset Management Inc grew its holdings in Trane Technologies by 719.8% in the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after buying an additional 659,299 shares during the period. Putnam Investments LLC increased its stake in shares of Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after acquiring an additional 570,679 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Trane Technologies by 7,363.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after acquiring an additional 417,120 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 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.