Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Citigroup Analyst Says

Trane Technologies (NYSE:TT) had its price target raised by analysts at Citigroup from $445.00 to $502.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 15.05% from the stock’s previous close.

TT has been the topic of several other reports. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. Barclays boosted their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $437.80.

Trane Technologies Stock Performance

Shares of TT opened at $436.35 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The firm has a market cap of $97.31 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.86 and a beta of 1.15. The company’s 50 day simple moving average is $427.30 and its 200-day simple moving average is $382.03. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $441.19.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.94 earnings per share. As a group, equities analysts predict that Trane Technologies will post 12.83 EPS for the current year.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider owned 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC grew its holdings in shares of Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after purchasing an additional 183 shares during the period. Ethic Inc. grew its holdings in shares of Trane Technologies by 150.1% during the 4th quarter. Ethic Inc. now owns 24,883 shares of the company’s stock worth $9,190,000 after purchasing an additional 14,932 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Trane Technologies by 28.3% during the 4th quarter. Proficio Capital Partners LLC now owns 685 shares of the company’s stock worth $253,000 after purchasing an additional 151 shares during the period. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Trane Technologies by 495.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,538 shares during the period. Hedge funds and other institutional investors 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.