Barclays Issues Positive Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT - Get Free Report) had its price target upped by investment analysts at Barclays from $476.00 to $480.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 10.73% from the stock's previous close.

TT has been the subject of a number of other reports. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company raised their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $434.00.

Trane Technologies Stock Performance

TT traded up $6.60 on Wednesday, hitting $433.49. 841,621 shares of the company's stock were exchanged, compared to its average volume of 1,334,181. The firm has a market cap of $96.68 billion, a PE ratio of 36.06, a P/E/G ratio of 2.78 and a beta of 1.15. Trane Technologies has a twelve month low of $298.15 and a twelve month high of $438.95. The stock has a fifty day moving average of $423.41 and a two-hundred day moving average of $380.01. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business earned $1.94 earnings per share. Trane Technologies's revenue was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider owned 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after purchasing an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after acquiring an additional 1,408,421 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Trane Technologies by 7.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock valued at $1,208,044,000 after acquiring an additional 241,910 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. 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.