Trane Technologies (NYSE:TT) Price Target Increased to $300.00 by Analysts at JPMorgan Chase & Co.

Trane Technologies (NYSE:TT) had its price target hoisted 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 currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 4.51% from the stock’s current price.

A number of other brokerages also recently commented on TT. Mizuho increased their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday. TD Cowen raised their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird upped their price objective on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $300.54.

Trane Technologies Trading Down 0.3 %

Trane Technologies stock traded down $0.82 during midday trading on Thursday, reaching $314.16. 425,089 shares of the stock traded hands, compared to its average volume of 1,023,758. The firm has a market cap of $71.18 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $294.39 and a two-hundred day simple moving average of $256.74. Trane Technologies has a 12-month low of $162.04 and a 12-month high of $327.09.

Trane Technologies (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts expect that Trane Technologies will post 10.49 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock worth $8,024,534 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth $25,000. Motco acquired a new stake in shares of Trane Technologies during the fourth quarter valued at $27,000. Sachetta LLC purchased a new stake in Trane Technologies during the 4th quarter worth about $27,000. GoalVest Advisory LLC raised its stake in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies in the 1st quarter valued at about $27,000. 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.