Trane Technologies (NYSE:TT) Given New $425.00 Price Target at Barclays

by · The Cerbat Gem

Trane Technologies (NYSE:TT – Free Report) had its price target raised by Barclays from $394.00 to $425.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

TT has been the topic of several other research reports. Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an overweight rating and a $425.00 price objective on the stock. Stephens reissued an equal weight rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted 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. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $315.00 to $320.00 and gave the stock an underweight rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $357.25.

Read Our Latest Analysis on TT

Trane Technologies Stock Up 0.4 %

Shares of NYSE:TT opened at $388.36 on Wednesday. The company has a fifty day moving average of $355.12 and a 200-day moving average of $332.61. The company has a market capitalization of $87.91 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $391.94.

Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 earnings per share. On average, equities analysts predict that Trane Technologies will post 10.87 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’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 in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TT. PFG Private Wealth Management LLC raised its holdings in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after purchasing an additional 32 shares during the last quarter. Bell Investment Advisors Inc lifted its position in shares of Trane Technologies by 26.5% during the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after buying an additional 35 shares in the last quarter. Muirfield Wealth Advisors LLC boosted its stake in shares of Trane Technologies by 4.1% in the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after buying an additional 37 shares during the last quarter. Pure Financial Advisors LLC grew its holdings in shares of Trane Technologies by 5.2% in the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after acquiring an additional 38 shares in the last quarter. Finally, Simmons Bank increased its position in shares of Trane Technologies by 5.6% during the second quarter. Simmons Bank now owns 718 shares of the company’s stock valued at $236,000 after acquiring an additional 38 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

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.

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