Trane Technologies (NYSE:TT) Price Target Raised to $394.00 at Barclays

Trane Technologies (NYSE:TT) had its target price hoisted by stock analysts at Barclays from $385.00 to $394.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 19.34% from the stock’s previous close.

Several other analysts have also commented on TT. Wells Fargo & Company increased their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday. Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. TD Cowen boosted their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $321.14.

Trane Technologies Price Performance

Shares of NYSE:TT traded down $4.13 during trading on Thursday, reaching $330.15. The company had a trading volume of 572,240 shares, compared to its average volume of 1,119,840. The firm has a market capitalization of $74.73 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. Trane Technologies has a twelve month low of $184.02 and a twelve month high of $351.41. The firm’s fifty day moving average is $332.04 and its 200 day moving average is $304.85.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. On average, equities analysts forecast that Trane Technologies will post 10.49 EPS for the current year.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TT. Global Retirement Partners LLC lifted its holdings in Trane Technologies by 6.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,023 shares of the company’s stock worth $251,000 after buying an additional 65 shares in the last quarter. Fifth Third Bancorp increased its position in Trane Technologies by 5.5% in the fourth quarter. Fifth Third Bancorp now owns 8,848 shares of the company’s stock worth $2,158,000 after purchasing an additional 460 shares during the period. Argus Investors Counsel Inc. bought a new stake in Trane Technologies during the 4th quarter worth about $509,000. Pinnacle Financial Partners Inc boosted its stake in shares of Trane Technologies by 5.6% in the 4th quarter. Pinnacle Financial Partners Inc now owns 2,903 shares of the company’s stock valued at $708,000 after purchasing an additional 153 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Trane Technologies by 255.0% during the 4th quarter. Venturi Wealth Management LLC now owns 536 shares of the company’s stock worth $131,000 after buying an additional 385 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.