Barclays Boosts Trane Technologies (NYSE:TT) Price Target to $425.00

Trane Technologies (NYSE:TT) had its price objective lifted by Barclays from $394.00 to $425.00 in a report published on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on TT. Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an overweight rating and a $425.00 price objective for the company. Stephens reaffirmed an equal weight rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on Trane Technologies from $315.00 to $320.00 and gave the company an underweight rating in a research note on Friday, September 6th. Finally, 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 note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $345.92.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $388.45 on Wednesday. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $391.94. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $355.12 and a 200-day moving average price of $332.35. The company has a market cap of $87.93 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during 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 quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 EPS. Equities analysts anticipate that Trane Technologies will post 10.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TT. GoalVest Advisory LLC increased its holdings in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies in the 1st quarter valued at about $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Trane Technologies during the 1st quarter valued at about $30,000. Fortitude Family Office LLC grew its holdings in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Trane Technologies in the second quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

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.