Trane Technologies (NYSE:TT – Free Report) had its target price lowered by Citigroup from $478.00 to $476.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also recently issued reports on TT. Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group began coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target for the company. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $420.64.
View Our Latest Analysis on TT
Trane Technologies Price Performance
Trane Technologies (NYSE:TT – Get Free Report) last released its quarterly 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 business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 EPS. On average, equities analysts anticipate that Trane Technologies will post 11.13 EPS for the current fiscal year.
Insider Transactions at Trane Technologies
In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.
Institutional Investors Weigh In On Trane Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in TT. FMR LLC increased its position in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the period. State Street Corp increased its holdings in shares of Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after purchasing an additional 77,830 shares during the period. Geode Capital Management LLC raised its stake in shares of Trane Technologies by 1.4% during the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Trane Technologies by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock valued at $832,691,000 after buying an additional 20,151 shares during the period. 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.
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