Trane Technologies (NYSE:TT) Lowered to “Hold” Rating by Melius

Trane Technologies (NYSE:TT) was downgraded by equities research analysts at Melius from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $398.00 price target on the stock. Melius’ price objective indicates a potential upside of 8.36% from the company’s current price.

Other equities analysts have also issued reports about the company. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted 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. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. Finally, Citigroup reduced their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $419.13.

Trane Technologies Trading Down 8.4 %

Shares of TT opened at $367.28 on Tuesday. Trane Technologies has a 1-year low of $250.77 and a 1-year high of $422.00. The company has a market capitalization of $82.65 billion, a P/E ratio of 34.07, a P/E/G ratio of 2.16 and a beta of 1.06. 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’s 50 day simple moving average is $393.50 and its 200 day simple moving average is $376.20.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.79 EPS. Sell-side analysts forecast that Trane Technologies will post 11.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Several large investors have recently bought and sold shares of TT. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Trane Technologies by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 573,573 shares of the company’s stock valued at $211,849,000 after purchasing an additional 6,494 shares in the last quarter. Caitlin John LLC boosted its holdings in shares of Trane Technologies by 2.9% during the 4th quarter. Caitlin John LLC now owns 4,676 shares of the company’s stock valued at $1,727,000 after buying an additional 132 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in shares of Trane Technologies by 8.9% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,989 shares of the company’s stock worth $1,597,000 after acquiring an additional 326 shares in the last quarter. Massachusetts Wealth Management lifted its position in Trane Technologies by 2.0% during the 4th quarter. Massachusetts Wealth Management now owns 6,390 shares of the company’s stock valued at $2,360,000 after acquiring an additional 125 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Trane Technologies by 37.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,417 shares of the company’s stock worth $12,448,000 after acquiring an additional 9,093 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

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.