Trane Technologies (NYSE:TT) Given New $415.00 Price Target at Citigroup

Trane Technologies (NYSE:TT) had its price objective dropped by analysts at Citigroup from $476.00 to $415.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 19.52% from the stock’s current price.

TT has been the topic of a number of other research reports. Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada raised their price target 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. JPMorgan Chase & Co. decreased their price objective on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Melius Research reiterated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $405.31.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $1.40 during midday trading on Monday, hitting $347.21. The stock had a trading volume of 1,249,140 shares, compared to its average volume of 1,288,078. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $77.88 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company’s 50-day moving average price is $347.12 and its 200-day moving average price is $376.38. Trane Technologies has a fifty-two week low of $286.32 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts predict that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies during the 4th quarter worth $26,000. Minot DeBlois Advisors LLC bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $26,000. WFA Asset Management Corp increased its stake in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $28,000. Finally, Sound Income Strategies LLC grew its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.