JPMorgan Chase & Co. Issues Positive Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its target price hoisted by JPMorgan Chase & Co. from $387.00 to $396.00 in a research note issued to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also issued reports on the stock. Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Citigroup cut their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. 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 research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday. Finally, UBS Group initiated coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Price Performance

NYSE:TT opened at $362.47 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a 50 day moving average price of $389.53 and a 200-day moving average price of $376.35. Trane Technologies has a 1-year low of $250.79 and a 1-year high of $422.00. The firm has a market cap of $81.56 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Equities research analysts forecast that Trane Technologies will post 11.16 EPS for the current year.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies 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 in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Institutional investors have recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new position in Trane Technologies in the 4th quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies in the third quarter valued at $36,000. Sound Income Strategies LLC grew its stake in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Finally, Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter worth about $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.