Wells Fargo & Company Has Lowered Expectations for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its price target dropped by investment analysts at Wells Fargo & Company from $390.00 to $380.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 0.26% from the company’s current price.

Several other research analysts also recently commented on TT. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $414.57.

Trane Technologies Trading Down 1.2 %

Shares of NYSE:TT traded down $4.50 during midday trading on Tuesday, hitting $379.02. 213,954 shares of the stock were exchanged, compared to its average volume of 1,122,771. The business’s 50-day moving average price is $396.29 and its 200 day moving average price is $370.46. Trane Technologies has a 12 month low of $239.03 and a 12 month high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market capitalization of $85.29 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. 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 firm posted $2.79 EPS. Analysts predict that Trane Technologies will post 11.13 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of TT. Asset Dedication LLC purchased a new stake in Trane Technologies in the second quarter worth about $81,000. Caprock Group LLC boosted its position in shares of Trane Technologies by 93.3% during the second quarter. Caprock Group LLC now owns 3,863 shares of the company’s stock valued at $1,271,000 after purchasing an additional 1,865 shares in the last quarter. Ballentine Partners LLC grew its stake in Trane Technologies by 17.5% in the second quarter. Ballentine Partners LLC now owns 2,346 shares of the company’s stock worth $772,000 after purchasing an additional 349 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in Trane Technologies by 48.5% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,547 shares of the company’s stock worth $838,000 after purchasing an additional 832 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in shares of Trane Technologies by 321.9% during the 2nd quarter. Wedbush Securities Inc. now owns 7,481 shares of the company’s stock valued at $2,461,000 after buying an additional 5,708 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.