JPMorgan Chase & Co. Increases Trane Technologies (NYSE:TT) Price Target to $300.00

Trane Technologies (NYSE:TT) had its price objective upped by analysts at JPMorgan Chase & Co. from $247.00 to $300.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 6.04% from the company’s current price.

Several other analysts have also recently issued reports on TT. The Goldman Sachs Group upped their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada upped their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. TD Cowen upped their target price on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday. Barclays upped their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Robert W. Baird increased their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average price target of $300.54.

Trane Technologies Price Performance

Shares of TT traded up $2.50 during trading hours on Thursday, hitting $319.29. 1,074,535 shares of the stock were exchanged, compared to its average volume of 1,049,630. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies has a 12-month low of $162.04 and a 12-month high of $327.09. The company has a market cap of $72.27 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The stock’s 50-day moving average price is $295.83 and its two-hundred day moving average price is $257.93.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 earnings per share. Research analysts expect that Trane Technologies will post 10.47 earnings per share for the current year.

Insider Activity

In other news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 in the last three months. 0.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GoalVest Advisory LLC raised its holdings in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the first quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies in the first quarter valued at $30,000. BKM Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at $25,000. Finally, Sachetta LLC purchased a new position in Trane Technologies during the fourth quarter worth about $27,000. 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.