Robert W. Baird Issues Positive Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its target price upped by research analysts at Robert W. Baird from $360.00 to $396.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 0.92% from the stock’s previous close.

Several other brokerages also recently issued reports on TT. Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a report on Thursday. Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Barclays lowered their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. HSBC raised Trane Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Finally, UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $421.07.

Trane Technologies Stock Performance

TT opened at $399.68 on Thursday. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $422.00. The stock has a market cap of $89.64 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.50 and a beta of 1.08. The stock’s 50 day simple moving average is $344.26 and its 200 day simple moving average is $372.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 earnings per share. As a group, equities analysts anticipate that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred 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 now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,805 shares of company stock worth $3,945,082. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after buying an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after buying an additional 130,867 shares during the period. Norges Bank acquired a new position in Trane Technologies during the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp boosted its holdings in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after acquiring an additional 429,953 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.