Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised Trane Technologies’ price target from $496 to $502 while maintaining a “sector perform” rating, implying approximately 5.7% upside from the prior close.
• Analyst sentiment remains favorable overall, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $538.89, despite mixed individual recommendations.
• Trane Technologies reported quarterly EPS of $4.31 and revenue of $6.35 billion, exceeding estimates, while shares recently traded down 0.6% at $474.92.

Trane Technologies (NYSE:TT - Get Free Report) had its target price increased by equities research analysts at Royal Bank Of Canada from $496.00 to $502.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 5.70% from the company's previous close.

A number of other research firms also recently issued reports on TT. Wall Street Zen downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, August 30th. The Goldman Sachs Group raised shares of Trane Technologies from a "neutral" rating to a "buy" rating and set a $565.00 price target on the stock in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Trane Technologies from $515.00 to $532.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. BNP Paribas Exane boosted their price objective on shares of Trane Technologies from $560.00 to $575.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Trane Technologies from $515.00 to $499.00 and set a "hold" rating for the company in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $538.89.

Trane Technologies Trading Down 0.6%

NYSE:TT traded down $3.09 on Wednesday, hitting $474.92. 133,971 shares of the stock were exchanged, compared to its average volume of 1,360,215. The stock has a fifty day moving average of $455.64 and a 200-day moving average of $462.24. The stock has a market cap of $104.49 billion, a PE ratio of 36.07, a PEG ratio of 2.23 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, topping analysts' consensus estimates of $4.27 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $3.88 EPS. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, equities analysts expect that Trane Technologies will post 15.30 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Regnery sold 48,091 shares of the business's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares of the company's stock, valued at approximately $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently modified their holdings of the stock. Wilkerson Advisory Group LLC boosted its position in Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC grew its stake in Trane Technologies by 153.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 66 shares of the company's stock worth $32,000 after buying an additional 40 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after buying an additional 52 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Trane Technologies in the first quarter worth $33,000. Finally, Axiom Investment Management LLC acquired a new stake in Trane Technologies in the first quarter worth $50,000. Institutional investors own 82.97% of the company's stock.

About Trane Technologies

Trane Technologies plc is a global climate solutions company that develops and provides systems, equipment, services and controls for heating, ventilation, air conditioning and refrigeration. Its solutions are used in commercial buildings, industrial facilities, residential properties, data centers, transportation and other applications where temperature control and energy efficiency are important.

The company operates through two primary areas: Climate Solutions, which includes building heating and cooling systems, building controls, services and energy-management solutions; and Climate Solutions Transport, which provides refrigeration systems for trucks, trailers, shipping containers and other transportation applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.