Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo has increased Trane Technologies' price target from $410.00 to $415.00, but maintains an "underweight" rating on the stock, indicating a potential downside of 2.95% from its current price.
• Multiple analysts have diverse ratings on the stock, with UBS Group setting a price target of $544.00 and a "buy" rating, while others have rated it "hold" or "neutral."
• Trane Technologies recently reported $3.88 earnings per share, exceeding expectations, with a revenue of $5.75 billion for the quarter, though slightly below consensus estimates.

Trane Technologies (NYSE:TT - Get Free Report) had its price target upped by equities research analysts at Wells Fargo & Company from $410.00 to $415.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 2.95% from the stock's current price.

TT has been the subject of a number of other reports. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a report on Saturday, September 27th. UBS Group upped their price objective on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and upped their price target for the stock from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, Hsbc Global Res cut Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of "Hold" and a consensus target price of $457.73.

Trane Technologies Stock Up 0.8%

TT stock traded up $3.54 during trading on Monday, reaching $427.63. 78,042 shares of the company traded hands, compared to its average volume of 1,434,675. Trane Technologies has a 12 month low of $298.15 and a 12 month high of $476.18. The business has a 50 day simple moving average of $421.53 and a 200 day simple moving average of $407.10. The company has a market capitalization of $95.15 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the firm earned $3.30 earnings per share. Trane Technologies's revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, 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 news, CEO David S. Regnery sold 22,497 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

Institutional Trading of Trane Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Trane Technologies in the 2nd quarter worth $1,356,065,000. Nuveen LLC acquired a new stake in Trane Technologies in the first quarter valued at about $877,468,000. Wellington Management Group LLP lifted its position in Trane Technologies by 245.1% in the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company's stock valued at $722,493,000 after purchasing an additional 1,522,933 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company's stock valued at $766,583,000 after buying an additional 1,220,388 shares during the period. 82.97% of the stock is 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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