Trane Technologies (NYSE:TT) Rating Lowered to Hold at HSBC

Trane Technologies (NYSE:TT) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a report issued on Thursday, FinViz reports. They currently have a $405.00 price objective on the stock. HSBC’s price target would suggest a potential upside of 7.85% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Barclays lifted their target price on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $376.00.

Trane Technologies Price Performance

Shares of TT opened at $375.52 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 company has a 50 day moving average price of $376.97 and a 200-day moving average price of $344.61. Trane Technologies has a fifty-two week low of $186.24 and a fifty-two week high of $406.96. The stock has a market capitalization of $85.00 billion, a PE ratio of 40.12, a PEG ratio of 2.70 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. Equities analysts predict that Trane Technologies will post 10.89 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on 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 directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 acquiring an additional 80,536 shares during the period. International Assets Investment Management LLC raised its stake in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Trane Technologies by 1.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after purchasing an additional 18,403 shares during the period. Finally, Mackenzie Financial Corp grew 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 worth $357,043,000 after purchasing an additional 2,898 shares in the last quarter. Institutional investors and hedge funds 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.