Melius Research Reaffirms “Hold” Rating for Trane Technologies (NYSE:TT)

Melius Research reissued their hold rating on shares of Trane Technologies (NYSE:TT) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $398.00 price target on the stock.

Several other research firms have also recently weighed in on TT. JPMorgan Chase & Co. decreased their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup cut their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research report on Tuesday. Finally, Northcoast Research began coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $417.81.

Trane Technologies Stock Performance

Shares of TT stock opened at $365.41 on Tuesday. The company has a market cap of $82.23 billion, a P/E ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06. The firm has a fifty day moving average price of $393.50 and a 200 day moving average price of $376.20. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies has a 12 month low of $250.77 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies 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 of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently added to or reduced their stakes in TT. Trust Point Inc. lifted its holdings in shares of Trane Technologies by 3.1% in the 3rd 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 raised 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 lifted its holdings 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 period. Wescott Financial Advisory Group LLC boosted its position in shares of Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 28 shares in the last quarter. Finally, Greenleaf Trust grew its stake in shares of Trane Technologies by 0.5% during the 3rd 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 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.