Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Trane Technologies (NYSE:TT) had its price target boosted by investment analysts at Royal Bank of Canada from $390.00 to $395.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 3.97% from the stock’s previous close.

A number of other research analysts have also recently issued reports on TT. Robert W. Baird cut their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group began coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $413.14.

Trane Technologies Stock Up 1.6 %

Shares of NYSE:TT traded up $6.07 on Friday, reaching $379.91. The company had a trading volume of 354,906 shares, compared to its average volume of 1,092,591. The stock has a 50-day moving average price of $396.71 and a 200 day moving average price of $369.46. Trane Technologies has a twelve month low of $236.33 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $85.49 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 earnings per share. On average, equities analysts expect that Trane Technologies will post 11.13 EPS for the current year.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Trust Point Inc. boosted its stake in Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after buying an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after acquiring an additional 27 shares in the last quarter. First Pacific Financial increased its stake in Trane Technologies by 1.1% in the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after acquiring an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC raised its position in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after purchasing an additional 28 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after purchasing an additional 29 shares during the last quarter. 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.