JPMorgan Chase & Co. Increases Trane Technologies (NYSE:TT) Price Target to $300.00

Trane Technologies (NYSE:TT) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $247.00 to $300.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 4.51% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Citigroup upped their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Barclays increased their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho upped their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and a consensus price target of $300.54.

Trane Technologies Trading Down 0.3 %

Shares of TT traded down $0.82 during midday trading on Thursday, hitting $314.16. The stock had a trading volume of 425,089 shares, compared to its average volume of 1,023,758. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The firm has a market cap of $71.18 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $327.09. The business has a 50-day simple moving average of $294.39 and a two-hundred day simple moving average of $256.74.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, equities analysts forecast that Trane Technologies will post 10.49 EPS for the current year.

Insider Transactions at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,237 shares of company stock worth $8,024,534. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. BKM Wealth Management LLC bought a new position in Trane Technologies during the fourth quarter worth about $25,000. Motco bought a new stake in Trane Technologies in the fourth quarter valued at $27,000. Sachetta LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at $27,000. GoalVest Advisory LLC grew its holdings in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter worth about $27,000. 82.97% of the stock is owned by institutional investors.

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.