Trane Technologies (NYSE:TT) Given New $410.00 Price Target at Wells Fargo & Company

Trane Technologies (NYSE:TT - Get Free Report) had its price target raised by investment analysts at Wells Fargo & Company from $370.00 to $410.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential downside of 5.05% from the company's previous close.

A number of other research firms also recently weighed in on TT. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird raised their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Barclays lowered their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $430.13.

Trane Technologies Stock Performance

Shares of TT traded down $5.59 during trading hours on Tuesday, reaching $431.82. 161,300 shares of the company traded hands, compared to its average volume of 1,331,620. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The stock's fifty day moving average is $412.59 and its 200 day moving average is $377.88. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $438.15. The stock has a market cap of $96.31 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16.

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

Insider Activity at Trane Technologies

In other Trane Technologies 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 transaction of $1,356,980.00. Following the sale, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On Trane Technologies

A number of large investors have recently modified their holdings of TT. WFA Asset Management Corp raised 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 worth $25,000 after acquiring an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Trane Technologies during the 4th quarter worth about $28,000. Saudi Central Bank acquired a new position in Trane Technologies during the 1st quarter valued at about $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the 1st quarter valued at about $31,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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