Trane Technologies (NYSE:TT) Now Covered by Analysts at Wells Fargo & Company

Equities researchers at Wells Fargo & Company assumed coverage on shares of Trane Technologies (NYSE:TT) in a research note issued to investors on Friday, Briefing.com reports. The firm set an “overweight” rating and a $536.00 price target on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 22.11% from the stock’s previous close.

TT has been the topic of several other research reports. Royal Bank Of Canada cut their target price on Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating on the stock in a research note on Friday, July 31st. Citigroup lowered their price target on shares of Trane Technologies from $570.00 to $566.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wall Street Zen downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 30th. Weiss Ratings upgraded shares of Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Finally, Sanford C. Bernstein increased their target price on shares of Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $531.21.

Trane Technologies Stock Up 0.4%

Shares of NYSE TT opened at $438.93 on Friday. The firm has a 50-day simple moving average of $456.12 and a two-hundred day simple moving average of $458.57. Trane Technologies has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. The company has a market cap of $96.57 billion, a P/E ratio of 33.25, a PEG ratio of 2.09 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, July 30th. The company reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.27 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $3.88 earnings per share. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Research analysts anticipate that Trane Technologies will post 15.31 earnings per share for the current year.

Insider Buying and Selling at Trane Technologies

In related news, CEO David Regnery sold 43,778 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the completion of the transaction, the chief executive officer directly owned 96,950 shares in the company, valued at approximately $46,051,250. This trade represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently added to or reduced their stakes in TT. Norges Bank acquired a new position in Trane Technologies during the fourth quarter valued at approximately $1,163,124,000. Capital International Investors acquired a new stake in shares of Trane Technologies in the fourth quarter worth $324,639,000. Amundi raised its stake in shares of Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after acquiring an additional 703,018 shares during the period. First Trust Advisors LP raised its stake in shares of Trane Technologies by 536.6% in the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock valued at $221,763,000 after acquiring an additional 448,547 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Trane Technologies by 215.9% during the 1st quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock valued at $271,950,000 after acquiring an additional 446,598 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Trane Technologies

Trane Technologies plc is a global climate-focused company that designs, manufactures and services solutions for heating, ventilation and air conditioning (HVAC), as well as transport refrigeration. Its offerings include commercial and residential HVAC systems, building controls, energy-efficiency solutions, aftermarket services and parts, and related building-management technologies.

The company also serves the transportation market through refrigeration and temperature-control systems for trucks, trailers, rail cars and other applications.