Barclays Cuts Trane Technologies (NYSE:TT) Price Target to $505.00

Trane Technologies (NYSE:TT) had its target price decreased by Barclays from $506.00 to $505.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price objective on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. Melius raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $490.00 to $550.00 in a report on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $474.60.

Trane Technologies Stock Up 0.9%

Shares of TT stock opened at $381.74 on Wednesday. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $404.62 and a 200-day moving average of $419.07. The company has a market capitalization of $84.65 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 1.92 and a beta of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, equities research analysts predict that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of large investors have recently added to or reduced their stakes in TT. Norges Bank acquired a new position in shares of Trane Technologies in the second quarter valued at $1,356,065,000. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after buying an additional 1,220,388 shares during the last quarter. Nordea Investment Management AB raised its holdings in Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after acquiring an additional 1,157,405 shares during the period. Finally, ABN AMRO Bank N.V. acquired a new stake in Trane Technologies during the second quarter worth approximately $291,206,000. Institutional investors own 82.97% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.