Trane Technologies (NYSE:TT) Given New $535.00 Price Target at Morgan Stanley

by · The Cerbat Gem

Trane Technologies (NYSE:TT – Get Free Report) had its price target dropped by equities researchers at Morgan Stanley from $550.00 to $535.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 38.17% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research note on Monday, December 15th. Barclays decreased their target price on Trane Technologies from $506.00 to $505.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Citigroup increased their target price on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. UBS Group reduced their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $475.60.

Read Our Latest Report on TT

Trane Technologies Stock Performance

Trane Technologies stock traded up $1.75 during midday trading on Tuesday, hitting $387.22. The company’s stock had a trading volume of 460,868 shares, compared to its average volume of 1,956,213. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The company has a market cap of $85.86 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.93 and a beta of 1.21. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a 50-day moving average price of $403.40 and a two-hundred day moving average price of $418.62.

Trane Technologies (NYSE:TT – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies will post 12.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Icon Advisers Inc. Co. purchased a new stake in Trane Technologies in the second quarter worth approximately $26,000. Financial Consulate Inc. bought a new stake in Trane Technologies in the third quarter worth $25,000. Ameriflex Group Inc. purchased a new stake in Trane Technologies during the second quarter valued at about $28,000. Hantz Financial Services Inc. lifted its stake in shares of Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Finally, United Community Bank grew its position in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

(Get Free Report)

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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