Wells Fargo & Company Cuts Trane Technologies (NYSE:TT) Price Target to $360.00

Trane Technologies (NYSE:TT) had its price objective trimmed by Wells Fargo & Company from $380.00 to $360.00 in a research note published on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other research firms also recently commented on TT. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price on the stock. Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $415.25.

Trane Technologies Stock Performance

NYSE TT opened at $362.47 on Friday. The firm’s fifty day moving average price is $389.53 and its two-hundred day moving average price is $376.35. The stock has a market cap of $81.56 billion, a PE ratio of 33.62, a PEG ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies has a fifty-two week low of $250.79 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. On average, equities analysts expect that Trane Technologies will post 11.16 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Hedge funds have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies in the 4th quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies in the third quarter valued at $36,000. Sound Income Strategies LLC grew its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Trane Technologies during the second quarter worth about $39,000. Institutional investors and hedge funds 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.