Trane Technologies plc (NYSE:TT) Receives $420.64 Average Price Target from Analysts

Shares of Trane Technologies plc (NYSE:TT) have been given an average rating of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $420.64.

Several brokerages have recently weighed in on TT. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. 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. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $400.88 on Wednesday. Trane Technologies has a 52 week low of $250.06 and a 52 week high of $422.00. The company has a 50-day moving average price of $394.35 and a 200 day moving average price of $375.79. The company has a market cap of $90.21 billion, a P/E ratio of 37.19, a PEG ratio of 2.16 and a beta of 1.06. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) 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 for 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 quarter in the prior year, the firm posted $2.79 EPS. Research analysts predict that Trane Technologies will post 11.16 earnings per share for the current year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the company’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 completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Point Inc. boosted its position in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares during the last quarter. First Pacific Financial grew its stake in shares of Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after buying an additional 28 shares in the last quarter. Wescott Financial Advisory Group LLC increased its holdings in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after buying an additional 28 shares during the last quarter. Finally, Greenleaf Trust raised its position in Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after acquiring an additional 29 shares in the last quarter. 82.97% of the stock is 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.