Trane Technologies (NYSE:TT) Given New $476.00 Price Target at Citigroup

Trane Technologies (NYSE:TT) had its price objective decreased by Citigroup from $478.00 to $476.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms also recently weighed in on TT. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research note on Thursday, October 31st. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $420.64.

Trane Technologies Trading Up 0.7 %

Shares of TT stock opened at $385.50 on Monday. Trane Technologies has a 1-year low of $242.81 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The business’s fifty day moving average price is $396.47 and its 200 day moving average price is $372.50. The firm has a market capitalization of $86.75 billion, a PE ratio of 35.76, a P/E/G ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 EPS. As a group, sell-side analysts forecast that Trane Technologies will post 11.13 EPS for the current fiscal year.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred 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 directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its position in shares of Trane Technologies by 3.2% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,079 shares of the company’s stock worth $2,986,000 after buying an additional 282 shares during the period. Parallel Advisors LLC increased its stake in Trane Technologies by 16.4% during the second quarter. Parallel Advisors LLC now owns 2,468 shares of the company’s stock worth $812,000 after acquiring an additional 348 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Trane Technologies by 1.3% in the 2nd quarter. Wealthspire Advisors LLC now owns 3,002 shares of the company’s stock worth $987,000 after purchasing an additional 39 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Trane Technologies in the 2nd quarter valued at about $225,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Trane Technologies by 8.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,629 shares of the company’s stock worth $102,833,000 after purchasing an additional 23,376 shares during the period. Hedge funds and other 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.