Melius Research Reaffirms "Hold" Rating for Trane Technologies (NYSE:TT)

Trane Technologies (NYSE:TT - Get Free Report)'s stock had its "hold" rating restated by research analysts at Melius Research in a report issued on Tuesday, MarketBeat reports. They presently have a $398.00 price target on the stock. Melius Research's price objective would indicate a potential upside of 9.80% from the stock's previous close.

A number of other equities analysts also recently issued reports on TT. 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 note on Wednesday, October 9th. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Wells Fargo & Company decreased their price target on shares of Trane Technologies from $390.00 to $380.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Robert W. Baird decreased their target price on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies has an average rating of "Hold" and a consensus price target of $415.25.

Trane Technologies Price Performance

NYSE:TT traded down $3.85 during midday trading on Tuesday, hitting $362.47. The company had a trading volume of 1,648,323 shares, compared to its average volume of 1,550,379. Trane Technologies has a 52-week low of $250.79 and a 52-week high of $422.00. The stock's fifty day moving average price is $390.63 and its 200-day moving average price is $376.20. The company has a market capitalization of $81.56 billion, a PE ratio of 33.62, a P/E/G ratio of 1.96 and a beta of 1.06. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. As a group, research analysts expect that Trane Technologies will post 11.16 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its position in Trane Technologies by 1.2% during the fourth quarter. New York State Common Retirement Fund now owns 365,429 shares of the company's stock valued at $134,971,000 after purchasing an additional 4,443 shares in the last quarter. Prossimo Advisors LLC raised its stake in shares of Trane Technologies by 0.7% in the fourth quarter. Prossimo Advisors LLC now owns 4,463 shares of the company's stock worth $1,648,000 after buying an additional 32 shares during the period. Valley Wealth Managers Inc. lifted its position in shares of Trane Technologies by 840.6% during the 4th quarter. Valley Wealth Managers Inc. now owns 1,458 shares of the company's stock valued at $539,000 after buying an additional 1,303 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Trane Technologies by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 34,358 shares of the company's stock valued at $12,690,000 after acquiring an additional 1,416 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in Trane Technologies by 1.3% in the 4th quarter. Sanctuary Advisors LLC now owns 31,385 shares of the company's stock worth $11,497,000 after acquiring an additional 404 shares in the last quarter. 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.