Trane Technologies (NYSE:TT) Price Target Cut to $380.00 by Analysts at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price target decreased by Wells Fargo & Company from $390.00 to $380.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other equities analysts also recently weighed in on TT. Mizuho raised their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target for the company. Finally, Citigroup increased their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $414.57.

Trane Technologies Price Performance

Trane Technologies stock opened at $380.19 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company’s fifty day moving average price is $396.08 and its 200 day moving average price is $370.78. The stock has a market capitalization of $85.55 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.38 and a beta of 1.06. Trane Technologies has a 1 year low of $239.03 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, equities research analysts anticipate that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in Trane Technologies in the 3rd quarter valued at approximately $36,000. Quarry LP acquired a new position in Trane Technologies during the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Trane Technologies during the 3rd quarter worth approximately $39,000. Hedge funds and other 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.