Trane Technologies (NYSE:TT) Price Target Raised to $190.00

Trane Technologies (NYSE:TT) Price Target Raised to $190.00

Trane Technologies logoTrane Technologies (NYSE:TT – Get Rating) had its target price hoisted by investment analysts at Barclays from $170.00 to $190.00 in a research report issued to clients and investors on Thursday, The Fly reports. Barclays’s price target suggests a potential upside of 6.14% from the company’s previous close.

Several other analysts also recently commented on the stock. Argus upped their price target on shares of Trane Technologies from $170.00 to $185.00 in a research report on Tuesday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $116.00 to $126.00 and gave the company an “underweight” rating in a research note on Thursday, November 3rd. Mizuho increased their price objective on shares of Trane Technologies from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Wells Fargo & Company upped their target price on shares of Trane Technologies from $123.00 to $133.00 and gave the company an “underweight” rating in a report on Thursday, August 4th. Finally, BMO Capital Markets increased their price objective on shares of Trane Technologies from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating for the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.76.

Trane Technologies Price Performance

Shares of TT stock opened at $179.01 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.14 and a quick ratio of 0.78. The firm’s 50-day moving average is $160.82 and its two-hundred day moving average is $149.38. Trane Technologies has a 12 month low of $120.64 and a 12 month high of $204.23. The company has a market capitalization of $41.23 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02.

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Trane Technologies (NYSE:TT – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.15. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Trane Technologies had a net margin of 10.56% and a return on equity of 27.32%. Analysts predict that Trane Technologies will post 7.17 earnings per share for the current year.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 1,000 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the senior vice president now directly owns 11,079 shares in the company, valued at $1,772,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, SVP Mairead Magner sold 1,000 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the senior vice president now directly owns 11,079 shares in the company, valued at $1,772,640. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, CEO David S. Regnery sold 14,651 shares of the stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $179.00, for a total value of $2,622,529.00. Following the transaction, the chief executive officer now directly owns 95,751 shares of the company’s stock, valued at $17,139,429. The disclosure for this sale can be found here. Insiders have sold 16,651 shares of company stock valued at $2,947,529 over the last 90 days. 0.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Prospera Financial Services Inc lifted its holdings in Trane Technologies by 24.5% during the 1st quarter. Prospera Financial Services Inc now owns 1,408 shares of the company’s stock worth $215,000 after buying an additional 277 shares during the period. Fisher Asset Management LLC increased its position in Trane Technologies by 8.6% in the 1st quarter. Fisher Asset Management LLC now owns 10,573 shares of the company’s stock valued at $1,615,000 after buying an additional 834 shares in the last quarter. MUFG Americas Holdings Corp. increased its position in Trane Technologies by 15.7% in the 1st quarter. MUFG Americas Holdings Corp now owns 3,258 shares of the company’s stock valued at $497,000 after buying an additional 442 shares in the last quarter. CIBC Asset Management Inc increased its position in Trane Technologies by 1.0% in the 1st quarter. CIBC Asset Management Inc now owns 13,038 shares of the company’s stock valued at $1,991,000 after buying an additional 134 shares in the last quarter. Finally, SouthState Corp increased its holdings in Trane Technologies by 728.2% during the 1st quarter. SouthState Corp now owns 646 shares of the company’s stock worth $99,000 after purchasing an additional 568 shares in the last quarter. Institutional investors own 80.25% of the company’s stock.

Trane Technologies Company Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling and servicing of solutions for heating, ventilation, air conditioning and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; generators; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Analyst Recommendations for Trane Technologies (NYSE:TT)

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