Trane Technologies (NYSE:TT) Stock Rating Lowered by Bank of America – MarketBeat
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Trane Technologies (NYSE:TT – Get Rating) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Monday, The Fly reports.
Several other equities analysts also recently weighed in on the company. Citigroup boosted their target price on Trane Technologies from $185.00 to $204.00 in a research report on Friday. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. Credit Suisse Group increased their price target on Trane Technologies from $175.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. BMO Capital Markets increased their target price on Trane Technologies from $155.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Finally, Argus upped their price target on shares of Trane Technologies from $170.00 to $185.00 in a report on Tuesday, November 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.88.
Trane Technologies Trading Down 1.1 %
Shares of TT opened at $175.26 on Monday. The stock has a market capitalization of $40.36 billion, a PE ratio of 25.33, a P/E/G ratio of 2.08 and a beta of 1.02. The company’s fifty day moving average is $163.74 and its 200 day moving average is $151.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.78 and a current ratio of 1.14. Trane Technologies has a fifty-two week low of $120.64 and a fifty-two week high of $204.23.
Trane Technologies (NYSE:TT – Get Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.15. Trane Technologies had a net margin of 10.56% and a return on equity of 27.32%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.16 billion. Sell-side analysts expect that Trane Technologies will post 7.17 earnings per share for the current fiscal year.
Insider Buying and Selling at Trane Technologies
In related news, SVP Mairead Magner sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $165.00, for a total transaction of $165,000.00. Following the completion of the transaction, the senior vice president now owns 11,079 shares in the company, valued at approximately $1,828,035. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Mairead Magner sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $165.00, for a total transaction of $165,000.00. Following the transaction, the senior vice president now directly owns 11,079 shares in the company, valued at approximately $1,828,035. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 14,651 shares of the stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $179.00, for a total value of $2,622,529.00. Following the completion of the sale, the chief executive officer now owns 95,751 shares of the company’s stock, valued at $17,139,429. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,651 shares of company stock valued at $2,947,529. 0.74% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock worth $3,016,386,000 after purchasing an additional 2,159,166 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Trane Technologies by 48.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,366,040 shares of the company’s stock valued at $777,057,000 after acquiring an additional 1,745,741 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Trane Technologies by 56.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,790,429 shares of the company’s stock worth $549,178,000 after acquiring an additional 1,368,481 shares during the period. First Trust Advisors LP raised its holdings in shares of Trane Technologies by 1,925.5% during the third quarter. First Trust Advisors LP now owns 1,265,126 shares of the company’s stock worth $183,203,000 after purchasing an additional 1,202,666 shares during the last quarter. Finally, Capital World Investors lifted its position in Trane Technologies by 47.1% during the first quarter. Capital World Investors now owns 2,475,871 shares of the company’s stock valued at $378,184,000 after purchasing an additional 792,225 shares during the period. Hedge funds and other institutional investors own 80.25% of the company’s stock.
Trane Technologies Company Profile
(Get Rating)
Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
Read More
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