JPMorgan Chase & Co. Increases Trane Technologies (NYSE:TT) Price Target to $300.00

Trane Technologies (NYSE:TT) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $247.00 to $300.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 6.04% from the company’s current price.

Several other analysts have also weighed in on the company. Wells Fargo & Company raised their price objective on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday. Stephens raised their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $300.54.

Trane Technologies Stock Performance

TT traded up $2.50 during trading hours on Thursday, reaching $319.29. The company’s stock had a trading volume of 1,074,535 shares, compared to its average volume of 1,049,630. Trane Technologies has a 52 week low of $162.04 and a 52 week high of $327.09. The company’s 50-day moving average is $295.83 and its 200-day moving average is $257.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. The firm has a market cap of $72.27 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 EPS. On average, equities analysts forecast that Trane Technologies will post 10.47 EPS for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock valued at $8,024,534 over the last 90 days. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently made changes to their positions in TT. Wellington Management Group LLP lifted its stake in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Xponance Inc. increased its stake in Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after acquiring an additional 6,869 shares during the last quarter. CHICAGO TRUST Co NA raised its holdings in shares of Trane Technologies by 2.1% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after acquiring an additional 64 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after purchasing an additional 42,409 shares in the last quarter. Finally, Wealth Effects LLC bought a new position in shares of Trane Technologies in the 4th quarter worth $239,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.