Trane Technologies (NYSE:TT) Price Target Raised to $460.00 at The Goldman Sachs Group

Trane Technologies (NYSE:TT - Get Free Report) had its price objective hoisted by The Goldman Sachs Group from $416.00 to $460.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 7.43% from the company's current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada lifted their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Finally, UBS Group lifted their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $434.00.

Trane Technologies Stock Performance

TT traded down $5.44 during trading on Tuesday, hitting $428.17. The stock had a trading volume of 199,424 shares, compared to its average volume of 1,329,930. The company has a 50 day moving average price of $424.42 and a 200-day moving average price of $380.38. The firm has a market cap of $95.49 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 2.78 and a beta of 1.15. Trane Technologies has a one year low of $298.15 and a one year high of $438.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT - Get Free Report) last released 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. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. As a group, research analysts predict that Trane Technologies will post 12.83 EPS for the current year.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was 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 in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TT. Norges Bank bought a new stake in Trane Technologies during the 4th quarter worth $1,117,816,000. Nuveen LLC bought a new stake in Trane Technologies during the 1st quarter worth $877,468,000. GAMMA Investing LLC grew its position in shares of Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Trane Technologies by 245.1% in the 1st quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after buying an additional 1,522,933 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. 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.