Trane Technologies (NYSE:TT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Trane Technologies (NYSE:TT) had its target price upped by JPMorgan Chase & Co. from $387.00 to $396.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target on the stock. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday. 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. Finally, Mizuho raised their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Down 1.1 %

TT stock opened at $362.47 on Friday. The stock has a market cap of $81.56 billion, a P/E ratio of 33.62, a PEG ratio of 1.96 and a beta of 1.06. 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 twelve month low of $250.79 and a twelve month high of $422.00. The company’s 50 day moving average is $389.53 and its two-hundred day moving average is $376.35.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Research analysts expect that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after acquiring an additional 1,640,569 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the last quarter. FMR LLC increased its stake in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares in the last quarter. Nordea Investment Management AB lifted its stake in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after buying an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Trane Technologies by 76.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after buying an additional 181,335 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

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.