Trane Technologies (NYSE:TT) Downgraded by BMO Capital … – MarketBeat
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Trane Technologies (NYSE:TT – Get Rating) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Briefing.com reports. They presently have a $180.00 price target on the stock. BMO Capital Markets’ price target would indicate a potential upside of 6.67% from the company’s current price.
Several other brokerages have also commented on TT. JPMorgan Chase & Co. upped their target price on Trane Technologies from $116.00 to $126.00 and gave the company an “underweight” rating in a research report on Thursday, November 3rd. Bank of America cut Trane Technologies from a “neutral” rating to an “underperform” rating and set a $160.00 price target on the stock. in a report on Monday, December 12th. Citigroup boosted their target price on shares of Trane Technologies from $185.00 to $204.00 in a research report on Friday, December 9th. Morgan Stanley raised their price target on shares of Trane Technologies from $166.00 to $183.00 and gave the stock an “overweight” rating in a report on Thursday, November 3rd. Finally, Argus upped their price objective 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, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $172.17.
Trane Technologies Stock Performance
NYSE:TT opened at $168.75 on Wednesday. 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 $203.34. The company has a 50 day simple moving average of $166.83 and a two-hundred day simple moving average of $152.81. The company has a market capitalization of $38.86 billion, a PE ratio of 24.39, a P/E/G ratio of 2.08 and a beta of 1.02.
Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.15. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Trane Technologies had a net margin of 10.56% and a return on equity of 27.32%. Research analysts anticipate that Trane Technologies will post 7.17 earnings per share for the current year.
Insider Activity at Trane Technologies
In other Trane Technologies news, SVP Mairead Magner sold 1,000 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the senior vice president now directly owns 11,079 shares in the company, valued at approximately $1,772,640. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Trane Technologies news, SVP Mairead Magner sold 1,000 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the senior vice president now directly owns 11,079 shares of the company’s stock, valued at approximately $1,772,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction 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 approximately $17,139,429. The disclosure for this sale can be found here. Insiders have sold a total of 16,651 shares of company stock valued at $2,947,529 over the last 90 days. Insiders own 0.74% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC boosted its holdings in shares of Trane Technologies by 83.9% in the 2nd quarter. Crewe Advisors LLC now owns 206 shares of the company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Heritage Wealth Management LLC purchased a new position in Trane Technologies in the second quarter valued at about $31,000. 1832 Asset Management L.P. bought a new position in shares of Trane Technologies during the 1st quarter valued at approximately $34,000. Bartlett & Co. LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $35,000. Finally, CI Investments Inc. raised its holdings in shares of Trane Technologies by 1,007.1% in the 3rd quarter. CI Investments Inc. now owns 310 shares of the company’s stock worth $45,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 80.25% of the company’s stock.
About Trane Technologies
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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.
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