Barclays Forecasts Strong Price Appreciation for Trane Technologies (NYSE:TT) Stock

Trane Technologies (NYSE:TT - Get Free Report) had its target price lifted by equities research analysts at Barclays from $476.00 to $480.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective points to a potential upside of 10.55% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price objective on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Citigroup boosted their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group upped their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $434.00.

Trane Technologies Price Performance

NYSE:TT traded up $0.57 on Wednesday, reaching $434.18. The stock had a trading volume of 1,048,331 shares, compared to its average volume of 1,333,042. The stock has a fifty day moving average price of $424.42 and a 200-day moving average price of $380.38. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $438.95. The company has a market capitalization of $96.83 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 EPS. Research analysts forecast that Trane Technologies will post 12.83 EPS for the current year.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

Several hedge funds have recently bought and sold shares of the business. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $26,000. WFA Asset Management Corp boosted its position in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies in the fourth quarter worth about $28,000. Saudi Central Bank purchased a new position in Trane Technologies in the first quarter worth about $30,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Trane Technologies in the first quarter worth about $31,000. Institutional investors and hedge funds 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.