Trane Technologies (NYSE:TT) Stock Rating Reaffirmed by Stephens

Trane Technologies (NYSE:TT)‘s stock had its “equal weight” rating restated by investment analysts at Stephens in a research note issued to investors on Monday, Benzinga reports. They presently have a $350.00 price target on the stock. Stephens’ target price would indicate a potential upside of 10.50% from the company’s previous close.

Several other equities analysts have also commented on the stock. Wells Fargo & Company upped their price target on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday. UBS Group increased their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Citigroup boosted their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report 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 report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Price Performance

Shares of TT traded down $1.72 during trading hours on Monday, reaching $316.73. 999,408 shares of the company traded hands, compared to its average volume of 1,130,533. The stock has a fifty day simple moving average of $331.66 and a 200 day simple moving average of $306.41. Trane Technologies has a fifty-two week low of $184.02 and a fifty-two week high of $351.41. The stock has a market capitalization of $71.48 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data 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. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies will post 10.83 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was 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 directly owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction 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 of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction 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 disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TT. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter valued at about $655,804,000. Swedbank AB purchased a new stake in Trane Technologies during the first quarter valued at about $206,211,000. TD Asset Management Inc boosted its holdings in shares of Trane Technologies by 719.8% in the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after buying an additional 659,299 shares during the period. Putnam Investments LLC increased its position in shares of Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after acquiring an additional 570,679 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in Trane Technologies in the 4th quarter worth approximately $77,615,000. Institutional investors 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.