Trane Technologies (NYSE:TT) Given New $380.00 Price Target at Wells Fargo & Company

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

Other research analysts have also recently issued reports about the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. UBS Group initiated coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Royal Bank of Canada raised their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $414.57.

Trane Technologies Stock Performance

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

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for 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%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.79 earnings per share. On average, equities analysts forecast that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC raised its position in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its position in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares in the last quarter. Albar Capital Ltd bought a new stake in Trane Technologies during the second quarter worth $14,556,000. GDS Wealth Management boosted its holdings in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares in the last quarter. Finally, King Wealth Management Group bought a new stake in shares of Trane Technologies during the 3rd quarter worth $1,879,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.