Trane Technologies (NYSE:TT) Given New $450.00 Price Target at Robert W. Baird

Trane Technologies (NYSE:TT - Get Free Report) had its price target upped by research analysts at Robert W. Baird from $396.00 to $450.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price suggests a potential upside of 0.84% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. UBS Group increased their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $441.40.

Trane Technologies Stock Up 2.1%

TT stock traded up $9.28 during mid-day trading on Thursday, reaching $446.26. The company had a trading volume of 453,514 shares, compared to its average volume of 1,327,583. The stock has a 50 day simple moving average of $427.90 and a two-hundred day simple moving average of $382.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market capitalization of $99.52 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 2.84 and a beta of 1.15. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $446.42.

Trane Technologies (NYSE:TT - Get Free Report) last announced its 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. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. As a group, equities analysts predict that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. WFA Asset Management Corp lifted its holdings in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies in the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies in the 4th quarter worth $28,000. Saudi Central Bank purchased a new position in Trane Technologies in the 1st quarter worth $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in Trane Technologies in the 1st quarter worth $31,000. Institutional investors own 82.97% of the company's stock.

About Trane Technologies

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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