Trane Technologies (NYSE:TT) Lowered to “Hold” Rating by Melius

Melius downgraded shares of Trane Technologies (NYSE:TT) from a buy rating to a hold rating in a research note published on Tuesday morning, Marketbeat.com reports. Melius currently has $398.00 target price on the stock.

Several other equities analysts have also issued reports on TT. JPMorgan Chase & Co. decreased their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Mizuho lifted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird cut their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $417.81.

Trane Technologies Price Performance

Shares of TT stock opened at $365.41 on Tuesday. The stock has a 50-day moving average price of $393.50 and a 200 day moving average price of $376.20. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $82.23 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies has a 12 month low of $250.77 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 EPS. Research analysts expect that Trane Technologies will post 11.16 EPS for the current year.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

A number of institutional investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter worth $27,000. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the 4th quarter worth $26,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth $36,000. Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors.

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.