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Trane Technologies (NYSE:TT - Get Rating) had its target price upped by equities research analysts at Morgan Stanley from $166.00 to $168.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 9.36% from the stock's previous close.
Other analysts have also issued reports about the company. BMO Capital Markets boosted their price objective on Trane Technologies from $155.00 to $180.00 and gave the stock an "outperform" rating in a report on Monday, August 15th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $123.00 to $133.00 and gave the company an "underweight" rating in a report on Thursday, August 4th. Barclays upped their price target on shares of Trane Technologies from $160.00 to $166.00 and gave the stock an "overweight" rating in a report on Thursday, August 4th. The Goldman Sachs Group increased their target price on Trane Technologies from $132.00 to $151.00 and gave the company a "neutral" rating in a research note on Thursday, August 4th. Finally, Cowen raised Trane Technologies from a "market perform" rating to an "outperform" rating and set a $180.00 target price on the stock in a research note on Friday, July 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $171.50.Trane Technologies Price Performance
Shares of TT stock traded down $0.45 during trading hours on Thursday, reaching $153.62. The company's stock had a trading volume of 7,783 shares, compared to its average volume of 1,514,193. The firm's 50 day simple moving average is $144.47 and its 200-day simple moving average is $144.37. The company has a market capitalization of $35.60 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.90 and a beta of 1.04. Trane Technologies has a fifty-two week low of $120.64 and a fifty-two week high of $204.23. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.66.
Trane Technologies (NYSE:TT - Get Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.10 by $0.06. Trane Technologies had a return on equity of 25.03% and a net margin of 10.06%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the previous year, the business earned $1.92 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Trane Technologies will post 7.1 earnings per share for the current year. Hedge Funds Weigh In On Trane Technologies
A number of institutional investors have recently modified their holdings of TT. Delos Wealth Advisors LLC increased its stake in Trane Technologies by 129.6% in the 4th quarter. Delos Wealth Advisors LLC now owns 186 shares of the company's stock valued at $38,000 after buying an additional 105 shares during the period. Herold Advisors Inc. acquired a new position in shares of Trane Technologies during the 1st quarter worth $31,000. Crewe Advisors LLC grew its stake in shares of Trane Technologies by 83.9% during the 2nd quarter. Crewe Advisors LLC now owns 206 shares of the company's stock worth $27,000 after purchasing an additional 94 shares during the period. Riverview Trust Co acquired a new position in shares of Trane Technologies during the 1st quarter worth $32,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Trane Technologies during the 1st quarter worth $34,000. 80.25% of the stock is owned by institutional investors and hedge funds. About Trane Technologies (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 MoreGet a free copy of the StockNews.com research report on Trane Technologies (TT)How will the chip ban affect Nvidia's stock?Is Best Buy A Sneaky Buy for Q4?Does The Bed Bath and Beyond Stock Rally Still Have Legs?Can Alibaba And Baidu Finally Rally With Delisting Fears Gone? 3 Materials Stocks That May Earn a Place on Your Watchlist
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