Brokerages Set Trane Technologies plc (NYSE:TT) Price Target at $343.54

Shares of Trane Technologies plc (NYSE:TT) have been given an average rating of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $343.54.

A number of brokerages have recently issued reports on TT. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. UBS Group upped their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Wells Fargo & Company lifted their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Trane Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares during the period. Capital World Investors grew its holdings in shares of Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares during the last quarter. Magellan Asset Management Ltd increased its position in Trane Technologies by 4.6% in the 4th quarter. Magellan Asset Management Ltd now owns 1,151,255 shares of the company’s stock valued at $280,791,000 after acquiring an additional 50,247 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Trane Technologies by 0.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after acquiring an additional 2,898 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT stock opened at $387.53 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The firm has a market capitalization of $87.72 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 2.45 and a beta of 1.01. The firm has a 50 day moving average price of $345.70 and a 200-day moving average price of $326.72. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $389.53.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the firm posted $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts forecast that Trane Technologies will post 10.87 EPS for the current fiscal year.

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.