Wells Fargo & Company Issues Pessimistic Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT - Free Report) had its price target trimmed by Wells Fargo & Company from $390.00 to $380.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an underweight rating on the stock.

TT has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Citigroup raised their price objective on Trane Technologies from $457.00 to $478.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Robert W. Baird lowered their target price on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $414.57.

Trane Technologies Trading Down 0.9 %

NYSE TT traded down $3.33 during mid-day trading on Tuesday, reaching $380.19. 895,553 shares of the stock were exchanged, compared to its average volume of 1,308,763. The stock has a market capitalization of $85.55 billion, a PE ratio of 35.27, a PEG 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 has a 1-year low of $239.03 and a 1-year high of $422.00. The business's fifty day simple moving average is $396.29 and its 200 day simple moving average is $370.46.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for 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%. During the same quarter last year, the firm earned $2.79 earnings per share. The business's revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, December 6th. Trane Technologies's payout ratio is currently 31.17%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors have recently modified their holdings of TT. Trust Point Inc. raised its stake in shares of 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 purchasing an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its position in shares of Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock worth $579,000 after buying an additional 27 shares in the last quarter. First Pacific Financial lifted its stake in shares of Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company's stock worth $1,039,000 after acquiring an additional 28 shares during the period. Wescott Financial Advisory Group LLC boosted its holdings in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after acquiring an additional 28 shares in the last quarter. Finally, Greenleaf Trust increased its stake in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company's stock valued at $2,275,000 after acquiring an additional 29 shares during the period. 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.