JPMorgan Chase & Co. Issues Pessimistic Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $390.00 to $387.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 0.04% from the stock’s current price.

TT has been the subject of a number of other research reports. 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. Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Robert W. Baird reduced their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $420.64.

Trane Technologies Stock Up 1.1 %

Shares of TT traded up $4.15 during midday trading on Wednesday, hitting $386.86. The stock had a trading volume of 80,170 shares, compared to its average volume of 1,025,309. The company has a 50 day simple moving average of $396.47 and a two-hundred day simple moving average of $372.50. Trane Technologies has a twelve month low of $242.81 and a twelve month high of $422.00. The firm has a market cap of $87.05 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

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

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Trane Technologies by 4.0% during the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. State Street Corp increased its holdings in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after buying an additional 77,830 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after buying an additional 65,991 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Trane Technologies by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after purchasing an additional 20,151 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.