Citigroup Has Lowered Expectations for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT - Free Report) had its target price trimmed by Citigroup from $478.00 to $476.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently commented on the company. Northcoast Research started coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a "buy" rating and a $500.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Trane Technologies from $390.00 to $380.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada increased their price objective 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, January 3rd. 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. Finally, The Goldman Sachs Group increased their price target 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and a consensus price target of $414.43.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $0.24 during trading hours on Monday, hitting $376.88. 960,855 shares of the stock were exchanged, compared to its average volume of 1,172,893. Trane Technologies has a one year low of $242.81 and a one year high of $422.00. The company's 50 day moving average is $396.63 and its 200 day moving average is $371.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market capitalization of $84.81 billion, a P/E ratio of 34.96, a P/E/G ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (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 company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the business posted $2.79 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. On average, research analysts expect that Trane Technologies will post 11.13 EPS for the current year.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the business'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 sale, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TT. Trust Point Inc. grew its position in shares of Trane Technologies by 3.1% during the 3rd quarter. Trust Point Inc. now owns 897 shares of the company's stock worth $349,000 after buying an additional 27 shares during the period. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after purchasing an additional 27 shares during the period. First Pacific Financial grew its stake in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company's stock worth $1,039,000 after purchasing an additional 28 shares during the period. Wescott Financial Advisory Group LLC grew 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 buying an additional 28 shares during the period. Finally, Greenleaf Trust increased its stake in shares of Trane Technologies by 0.5% in the 3rd 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 last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.