Trane Technologies (NYSE:TT) Price Target Cut to $162.00 by Analysts at Deutsche Bank Aktiengesellschaft

Trane Technologies (NYSE:TTGet Rating) had its target price cut by analysts at Deutsche Bank Aktiengesellschaft from $171.00 to $162.00 in a research report issued to clients and investors on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 14.72% from the company’s previous close.

Several other brokerages have also recently weighed in on TT. Credit Suisse Group decreased their price target on Trane Technologies from $194.00 to $178.00 in a research report on Thursday. Citigroup decreased their price target on Trane Technologies from $205.00 to $190.00 in a research report on Thursday. Zacks Investment Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $201.00 price objective on the stock in a research report on Monday, January 10th. Wolfe Research decreased their price objective on shares of Trane Technologies from $210.00 to $202.00 and set a “peer perform” rating on the stock in a research report on Tuesday, February 1st. Finally, Barclays decreased their price objective on shares of Trane Technologies from $205.00 to $180.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $189.31.

Shares of TT opened at $141.21 on Thursday. The business’s 50-day moving average price is $151.03 and its 200-day moving average price is $171.61. Trane Technologies has a twelve month low of $133.81 and a twelve month high of $207.06. The stock has a market cap of $33.02 billion, a PE ratio of 24.02, a P/E/G ratio of 1.07 and a beta of 1.03. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 0.72.

Trane Technologies (NYSE:TTGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.13. Trane Technologies had a return on equity of 23.09% and a net margin of 10.07%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Analysts expect that Trane Technologies will post 7.04 earnings per share for the current fiscal year.

In other news, EVP Raymond D. Pittard sold 5,019 shares of the stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $157.60, for a total transaction of $790,994.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 3,520 shares of the stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $160.05, for a total value of $563,376.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,424 shares of company stock valued at $2,295,970. 0.74% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Trane Technologies in the fourth quarter worth $25,000. Arlington Partners LLC purchased a new stake in Trane Technologies in the fourth quarter worth $25,000. D Orazio & Associates Inc. purchased a new stake in Trane Technologies in the third quarter worth $25,000. Bellevue Asset Management LLC purchased a new stake in Trane Technologies in the fourth quarter worth $36,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in Trane Technologies by 247.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 184 shares of the company’s stock worth $37,000 after acquiring an additional 131 shares during the period. 80.55% of the stock is owned by hedge funds and other institutional investors.

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.

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