Trane Technologies (NYSE:TT) Stock Price Target Raised at Mizuho

Key Points

• Mizuho raised Trane Technologies’ price target to $485 from $475 while maintaining a “neutral” rating, implying 7.24% upside from the prior close. The analyst consensus remains “Moderate Buy,” with an average target of $539.42.
• Trane Technologies shares fell 4.0% to $452.27, with the stock trading below its 50-day and 200-day moving averages. The company has a market capitalization of approximately $99.5 billion and a P/E ratio of 34.17.
• The company recently exceeded quarterly expectations, reporting adjusted EPS of $4.31 versus the $4.27 consensus and revenue of $6.35 billion versus $6.20 billion expected. Revenue increased 10.6% year over year, while CEO David Regnery sold $23.1 million in shares under a pre-arranged trading plan.

Trane Technologies (NYSE:TT - Get Free Report) had its target price increased by equities research analysts at Mizuho from $475.00 to $485.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price target would suggest a potential upside of 7.24% from the stock's previous close.

A number of other equities analysts also recently issued reports on TT. BNP Paribas Exane upped their price target on Trane Technologies from $560.00 to $575.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Wells Fargo & Company began coverage on shares of Trane Technologies in a research note on Friday, September 25th. They issued an "overweight" rating and a $536.00 price objective on the stock. Robert W. Baird boosted their price target on Trane Technologies from $515.00 to $532.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. assumed coverage on shares of Trane Technologies in a research note on Friday, October 9th. They set an "overweight" rating and a $550.00 target price on the stock. Finally, Weiss Ratings raised shares of Trane Technologies from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $539.42.

Trane Technologies Stock Down 4.0%

Shares of Trane Technologies stock traded down $19.02 during trading on Thursday, hitting $452.27. 1,104,501 shares of the stock traded hands, compared to its average volume of 1,364,169. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The stock's fifty day simple moving average is $455.38 and its 200 day simple moving average is $462.69. Trane Technologies has a 52-week low of $348.06 and a 52-week high of $505.87. The firm has a market cap of $99.51 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the company posted $3.88 earnings per share. Trane Technologies's revenue was up 10.6% compared to the same quarter last year. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, equities analysts predict that Trane Technologies will post 15.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares of the company's stock, valued at $46,536,480. The trade was a 33.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company's stock.

Hedge Funds Weigh In On Trane Technologies

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

Trane Technologies Company Profile

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.