UBS Group Boosts Trane Technologies (NYSE:TT) Price Target to $500.00

Trane Technologies (NYSE:TT) had its price target lifted by analysts at UBS Group from $470.00 to $500.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 18.00% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $427.47.

Trane Technologies Trading Down 0.1%

Shares of NYSE:TT opened at $423.71 on Thursday. The firm has a fifty day moving average of $366.28 and a two-hundred day moving average of $375.13. The firm has a market capitalization of $94.50 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $433.60. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. On average, equities analysts expect that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock valued at $6,555,377,000 after acquiring an additional 221,206 shares during the period. JPMorgan Chase & Co. increased its stake in Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares during the period. Geode Capital Management LLC increased its stake in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after acquiring an additional 136,349 shares during the period. Ameriprise Financial Inc. increased its stake in Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock valued at $1,208,044,000 after acquiring an additional 241,910 shares during the period. Finally, Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at about $1,117,816,000. Institutional investors own 82.97% of the company’s stock.

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.