Trane Technologies (NYSE:TT) Given New $387.00 Price Target at JPMorgan Chase & Co.

Trane Technologies (NYSE:TT - Free Report) had its price target lowered by JPMorgan Chase & Co. from $390.00 to $387.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on TT. Wells Fargo & Company lowered their price objective on Trane Technologies from $390.00 to $380.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird cut their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Barclays raised their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $420.64.

Trane Technologies Stock Performance

TT traded up $2.79 during midday trading on Wednesday, reaching $385.50. The company had a trading volume of 1,210,154 shares, compared to its average volume of 1,154,358. Trane Technologies has a 12-month low of $242.81 and a 12-month high of $422.00. The business has a 50-day moving average price of $396.47 and a two-hundred day moving average price of $372.50. The stock has a market cap of $86.75 billion, a PE ratio of 35.76, a P/E/G ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

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

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Wealth Strategies & Associates bought a new position in Trane Technologies in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the 3rd quarter valued at about $36,000. Quarry LP bought a new stake in Trane Technologies in the 2nd quarter worth approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in Trane Technologies in the third quarter worth approximately $39,000. 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.