Trane Technologies (NYSE:TT) Price Target Cut to $375.00 by Analysts at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective decreased by research analysts at Wells Fargo & Company from $415.00 to $375.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.35% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Citigroup boosted their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a report on Monday. Royal Bank Of Canada increased their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $469.40.

Trane Technologies Price Performance

Shares of TT opened at $384.02 on Friday. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a market cap of $85.15 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.20 and a beta of 1.19. The company’s fifty day simple moving average is $415.84 and its 200 day simple moving average is $423.14. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. Trane Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, research analysts forecast that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several large investors have recently made changes to their positions in TT. Brighton Jones LLC raised its holdings in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Partners Capital Investment Group LLP bought a new stake in shares of Trane Technologies during the 1st quarter worth about $357,000. CW Advisors LLC increased its holdings in shares of Trane Technologies by 107.6% during the 1st quarter. CW Advisors LLC now owns 4,136 shares of the company’s stock valued at $1,408,000 after acquiring an additional 2,144 shares during the last quarter. Norinchukin Bank The raised its stake in shares of Trane Technologies by 15.5% in the 1st quarter. Norinchukin Bank The now owns 11,961 shares of the company’s stock valued at $4,030,000 after acquiring an additional 1,605 shares in the last quarter. Finally, Compound Planning Inc. boosted its position in Trane Technologies by 25.4% during the first quarter. Compound Planning Inc. now owns 2,233 shares of the company’s stock worth $752,000 after purchasing an additional 452 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.