Trane Technologies (NYSE:TT) Stock Gets Price Target Cut from Citigroup

Trane Technologies (NYSE:TT) had its price target dropped by Citigroup from $566.00 to $549.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s target price would indicate a potential upside of 33.35% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Sanford C. Bernstein boosted their price target on Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft decreased their target price on Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Oppenheimer reissued an “outperform” rating and set a $500.00 target price on shares of Trane Technologies in a research note on Friday. BNP Paribas Exane increased their target price on shares of Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company assumed coverage on shares of Trane Technologies in a research note on Friday, September 25th. They issued an “overweight” rating and a $536.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $535.89.

Trane Technologies Price Performance

TT traded up $1.71 during trading on Monday, hitting $411.71. 675,829 shares of the stock traded hands, compared to its average volume of 1,377,630. The business has a 50 day moving average price of $450.58 and a 200 day moving average price of $453.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a market cap of $90.12 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 1.92 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.88 EPS. Equities research analysts forecast that Trane Technologies will post 15.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. The trade was a 33.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Trane Technologies

A number of hedge funds have recently made changes to their positions in TT. Amundi grew its holdings in Trane Technologies by 47.8% during the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after acquiring an additional 703,018 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Trane Technologies by 10.6% during the first quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after purchasing an additional 180,537 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Trane Technologies by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after purchasing an additional 32,286 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Trane Technologies by 0.4% in the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after purchasing an additional 3,624 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after purchasing an additional 234,666 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.