Trane Technologies (NYSE:TT) had its price target lowered by analysts at Morgan Stanley from $217.00 to $213.00 in a report issued on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 17.43% from the company’s current price.
TT has been the topic of a number of other reports. Stephens boosted their price target on Trane Technologies from $200.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, November 4th. Vertical Research cut Trane Technologies from a “buy” rating to a “hold” rating and set a $214.00 price objective for the company. in a report on Monday, January 3rd. Mizuho started coverage on Trane Technologies in a report on Thursday, December 16th. They issued a “neutral” rating and a $205.00 target price for the company. Royal Bank of Canada decreased their price objective on Trane Technologies from $185.00 to $183.00 and set a “sector perform” rating for the company in a research note on Thursday, November 4th. Finally, Wells Fargo & Company initiated coverage on Trane Technologies in a research report on Thursday, October 7th. They set an “underweight” rating and a $163.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $196.50.
TT stock traded down $6.62 on Friday, reaching $181.38. The company’s stock had a trading volume of 34,372 shares, compared to its average volume of 1,444,516. The business has a fifty day simple moving average of $194.85 and a two-hundred day simple moving average of $190.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.62. The firm has a market cap of $43.09 billion, a PE ratio of 32.62, a PEG ratio of 1.48 and a beta of 0.94. Trane Technologies has a 12-month low of $137.98 and a 12-month high of $207.06.
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Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.05). Trane Technologies had a return on equity of 21.78% and a net margin of 9.82%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. Trane Technologies’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies will post 6.04 earnings per share for the current fiscal year.
In other Trane Technologies news, CFO Christopher J. Kuehn sold 7,007 shares of the firm’s stock in a transaction dated Thursday, December 2nd. The shares were sold at an average price of $190.00, for a total value of $1,331,330.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marcia J. Avedon sold 36,773 shares of Trane Technologies stock in a transaction that occurred on Thursday, December 2nd. The shares were sold at an average price of $190.04, for a total value of $6,988,340.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,716 shares of company stock valued at $18,696,841. 0.74% of the stock is owned by insiders.
Several large investors have recently modified their holdings of TT. Assetmark Inc. lifted its stake in shares of Trane Technologies by 12.1% in the 2nd quarter. Assetmark Inc. now owns 502 shares of the company’s stock valued at $92,000 after purchasing an additional 54 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Trane Technologies by 15.7% in the 3rd quarter. SRS Capital Advisors Inc. now owns 405 shares of the company’s stock worth $70,000 after acquiring an additional 55 shares during the period. Rehmann Capital Advisory Group increased its holdings in shares of Trane Technologies by 4.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,447 shares of the company’s stock worth $250,000 after purchasing an additional 56 shares during the period. Manchester Capital Management LLC increased its stake in Trane Technologies by 12.2% in the second quarter. Manchester Capital Management LLC now owns 561 shares of the company’s stock valued at $103,000 after acquiring an additional 61 shares during the period. Finally, Clarius Group LLC increased its stake in Trane Technologies by 4.4% in the third quarter. Clarius Group LLC now owns 1,444 shares of the company’s stock valued at $249,000 after acquiring an additional 61 shares during the period. 79.12% of the stock is owned by institutional investors.
Trane Technologies Company Profile
Trane Technologies Plc is a global climate innovator, which engages in providing efficient and sustainable climate solutions to buildings, homes, and transportation. Its strategic brands include Trane and Thermo King. It operates through the following segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions; residential heating and cooling; and transport refrigeration systems and solutions in North America and Latin America regions.
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