Wells Fargo & Company Has Lowered Expectations for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT - Get Free Report) had its target price dropped by equities researchers at Wells Fargo & Company from $380.00 to $360.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's target price suggests a potential downside of 0.94% from the stock's previous close.

Several other analysts have also issued reports on TT. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Melius Research reissued a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, Barclays boosted their price objective 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, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $416.56.

Trane Technologies Stock Down 0.8 %

Shares of NYSE:TT traded down $2.91 during midday trading on Friday, reaching $363.41. The company had a trading volume of 232,472 shares, compared to its average volume of 1,476,034. Trane Technologies has a 1-year low of $250.79 and a 1-year high of $422.00. The stock has a market cap of $81.77 billion, a PE ratio of 33.69, 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. The business's 50 day moving average price is $390.63 and its 200 day moving average price is $376.20.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Research analysts forecast that Trane Technologies will post 11.16 EPS for the current fiscal year.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 12,893 shares of the company's stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Point Inc. grew its holdings in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company's stock worth $349,000 after purchasing an additional 27 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in 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 acquiring an additional 27 shares during the period. First Pacific Financial raised its position in Trane Technologies by 1.1% during the 3rd 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 last quarter. Wescott Financial Advisory Group LLC grew its position in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock valued at $670,000 after buying an additional 28 shares during the last quarter. Finally, Secured Retirement Advisors LLC increased its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after buying an additional 28 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.

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