Trane Technologies (NYSE:TT) PT Raised to $231.00

Posted by Defense World Staff on Nov 4th, 2023

Trane Technologies (NYSE:TT – Get Free Report) had its price target upped by analysts at Royal Bank of Canada from $204.00 to $231.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.89% from the company’s previous close.

A number of other brokerages also recently weighed in on TT. JPMorgan Chase & Co. raised shares of Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 price target for the company in a report on Friday, October 6th. HSBC initiated coverage on shares of Trane Technologies in a research report on Friday, September 15th. They set a “buy” rating and a $256.00 price objective for the company. Bank of America upgraded shares of Trane Technologies from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $187.00 to $210.00 in a research report on Thursday, October 5th. Barclays upped their price target on shares of Trane Technologies from $210.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, Mizuho upped their price target on shares of Trane Technologies from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $207.31.

Read Our Latest Stock Report on TT

Trane Technologies Stock Up 2.4 %

Trane Technologies stock opened at $218.16 on Thursday. The firm has a market capitalization of $49.83 billion, a PE ratio of 25.70, a P/E/G ratio of 1.85 and a beta of 1.01. The company’s 50-day moving average is $201.15 and its 200-day moving average is $191.48. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $219.50. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.29 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.13. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.80 billion. Trane Technologies had a net margin of 11.30% and a return on equity of 31.97%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. Sell-side analysts anticipate that Trane Technologies will post 9 earnings per share for the current year.

Insider Transactions at Trane Technologies

In other news, Director Linda P. Hudson sold 3,100 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $204.70, for a total value of $634,570.00. Following the transaction, the director now owns 4,332 shares in the company, valued at approximately $886,760.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 6,108 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $205.21, for a total transaction of $1,253,422.68. Following the sale, the senior vice president now owns 19,666 shares in the company, valued at approximately $4,035,659.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda P. Hudson sold 3,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $204.70, for a total transaction of $634,570.00. Following the sale, the director now owns 4,332 shares in the company, valued at approximately $886,760.40. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC raised its position in shares of Trane Technologies by 1.2% during the third quarter. Corient Private Wealth LLC now owns 239,557 shares of the company’s stock valued at $48,609,000 after buying an additional 2,769 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Trane Technologies by 17.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 67,975 shares of the company’s stock valued at $13,793,000 after purchasing an additional 10,116 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of Trane Technologies by 3.2% in the third quarter. MGO One Seven LLC now owns 3,981 shares of the company’s stock valued at $808,000 after purchasing an additional 123 shares in the last quarter. Certuity LLC grew its holdings in shares of Trane Technologies by 3.1% in the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock valued at $314,000 after purchasing an additional 46 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Trane Technologies by 2.6% in the third quarter. US Bancorp DE now owns 64,425 shares of the company’s stock valued at $13,073,000 after purchasing an additional 1,610 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Trane Technologies Company Profile

(Get Free Report)

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.