Wells Fargo & Company Increases Trane Technologies (NYSE:TT) Price Target to $295.00

Trane Technologies (NYSE:TT) had its price target lifted by stock analysts at Wells Fargo & Company from $281.00 to $295.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 7.61% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Stephens raised their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Mizuho lifted their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird lifted their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays lifted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Stock Up 0.8 %

Shares of NYSE TT traded up $2.50 during midday trading on Thursday, hitting $319.29. 1,074,535 shares of the company’s stock were exchanged, compared to its average volume of 1,049,630. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies has a twelve month low of $162.04 and a twelve month high of $327.09. The company has a market cap of $72.27 billion, a PE ratio of 34.12, a P/E/G ratio of 2.52 and a beta of 1.01. The firm’s fifty day simple moving average is $295.83 and its 200-day simple moving average is $257.93.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the company earned $1.41 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts predict that Trane Technologies will post 10.47 EPS for the current fiscal year.

Insider Activity

In related news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.33, for a total value of $813,378.93. Following the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,237 shares of company stock valued at $8,024,534. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Institutional investors have recently made changes to their positions in the stock. SPC Financial Inc. purchased a new stake in Trane Technologies in the first quarter valued at approximately $209,000. 9258 Wealth Management LLC raised its position in shares of Trane Technologies by 1.5% in the 1st quarter. 9258 Wealth Management LLC now owns 3,706 shares of the company’s stock worth $1,113,000 after buying an additional 54 shares during the period. Team Hewins LLC increased its position in Trane Technologies by 1.6% during the 1st quarter. Team Hewins LLC now owns 2,716 shares of the company’s stock worth $815,000 after purchasing an additional 43 shares in the last quarter. Richardson Financial Services Inc. lifted its position in Trane Technologies by 12.9% during the first quarter. Richardson Financial Services Inc. now owns 2,403 shares of the company’s stock valued at $721,000 after buying an additional 275 shares in the last quarter. Finally, Catalina Capital Group LLC purchased a new stake in Trane Technologies during the first quarter worth approximately $217,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.