Trane Technologies (NYSE:TT) Price Target Cut to $404.00 by Analysts at Robert W. Baird

Trane Technologies (NYSE:TT - Get Free Report) had its target price reduced by equities research analysts at Robert W. Baird from $408.00 to $404.00 in a report released on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 9.09% from the stock's current price.

Several other brokerages have also recently weighed in on TT. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Stephens restated an "equal weight" rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Mizuho boosted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an "overweight" rating and a $425.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $380.15.

Trane Technologies Stock Performance

Shares of NYSE:TT traded down $5.17 during mid-day trading on Thursday, reaching $370.35. The company had a trading volume of 2,189,178 shares, compared to its average volume of 1,104,484. Trane Technologies has a one year low of $186.24 and a one year high of $406.96. The firm has a market cap of $83.83 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.70 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company's 50-day moving average price is $377.36 and its 200-day moving average price is $344.79.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. The business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies will post 10.89 EPS for the current fiscal year.

Insider Activity

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company's stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TT. BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies during the first quarter worth about $30,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $36,000. Fortitude Family Office LLC boosted its stake in shares of Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company's stock valued at $37,000 after buying an additional 43 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in Trane Technologies during the second quarter worth $39,000. Finally, Quarry LP purchased a new position in Trane Technologies in the second quarter worth $39,000. Institutional investors and hedge funds 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.