The Goldman Sachs Group Raises Trane Technologies (NYSE:TT) Price Target to $287.00

Trane Technologies (NYSE:TTGet Free Report) had its target price upped by analysts at The Goldman Sachs Group from $253.00 to $287.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 6.21% from the company’s current price.

Several other equities research analysts also recently commented on TT. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 19th. Royal Bank of Canada upped their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Barclays increased their target price on shares of Trane Technologies from $222.00 to $226.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Finally, Citigroup increased their target price on shares of Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $229.60.

Check Out Our Latest Report on TT

Trane Technologies Price Performance

Shares of NYSE TT opened at $270.23 on Monday. The stock has a market capitalization of $61.49 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.05 and a beta of 1.03. The business has a 50-day moving average of $244.42 and a 200-day moving average of $219.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $278.81.

Trane Technologies (NYSE:TTGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. As a group, sell-side analysts predict that Trane Technologies will post 10.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at about $526,026,000. Moneta Group Investment Advisors LLC raised its holdings in Trane Technologies by 109,668.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock worth $330,088,000 after buying an additional 1,961,969 shares during the last quarter. BlackRock Inc. grew its stake in shares of Trane Technologies by 5.4% in the second quarter. BlackRock Inc. now owns 20,337,700 shares of the company’s stock worth $3,889,789,000 after acquiring an additional 1,048,924 shares during the period. First Trust Advisors LP grew its stake in shares of Trane Technologies by 2,606.5% in the first quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock worth $165,095,000 after acquiring an additional 1,041,224 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Trane Technologies by 24,670.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after acquiring an additional 1,030,247 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

About Trane Technologies

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Trane Technologies (NYSE:TT)

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