Trane Technologies (NYSE:TT) Price Target Lowered to $485.00 at Barclays

Key Points

• Barclays has lowered the price target for Trane Technologies from $495.00 to $485.00, while maintaining an "overweight" rating, suggesting a potential upside of 20.27% from the current share price.
• Trane Technologies reported quarterly earnings of $3.88 EPS, exceeding analyst estimates, with a revenue of $5.75 billion for the quarter, up 7.6% year-over-year.
• The stock has received mixed ratings from various brokerages, with five analysts assigning a Buy rating and a consensus target price of $457.93, indicating a general sentiment of holding the stock.

Trane Technologies (NYSE:TT - Get Free Report) had its price target lowered by stock analysts at Barclays from $495.00 to $485.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 20.27% from the company's current price.

Several other brokerages have also weighed in on TT. Citigroup increased their price objective on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Northcoast Research lowered shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Robert W. Baird raised their price target on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Trane Technologies has a consensus rating of "Hold" and a consensus target price of $457.93.

Trane Technologies Stock Performance

Shares of TT opened at $403.27 on Tuesday. Trane Technologies has a 12 month low of $298.15 and a 12 month high of $476.18. The firm has a fifty day simple moving average of $430.89 and a 200 day simple moving average of $400.53. The stock has a market capitalization of $89.73 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 2.50 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Research analysts forecast that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. WFA Asset Management Corp increased its position 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. Icon Advisers Inc. Co. bought a new position in Trane Technologies in the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in Trane Technologies in the 2nd quarter worth approximately $28,000. Hantz Financial Services Inc. boosted its stake in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company's stock worth $29,000 after purchasing an additional 61 shares during the period. Finally, Saudi Central Bank bought a new position in Trane Technologies in the 1st quarter worth approximately $30,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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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