Morgan Stanley Lowers Trane Technologies (NYSE:TT) Price Target to $155.00

Trane Technologies (NYSE:TTGet Rating) had its target price reduced by equities researchers at Morgan Stanley from $169.00 to $155.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 13.03% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Wolfe Research cut their price target on Trane Technologies from $210.00 to $202.00 and set a “peer perform” rating for the company in a report on Tuesday, February 1st. Mizuho dropped their price target on Trane Technologies from $205.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, February 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Trane Technologies from $171.00 to $162.00 in a research report on Thursday, May 5th. The Goldman Sachs Group decreased their target price on Trane Technologies from $180.00 to $157.00 and set a “neutral” rating on the stock in a research report on Thursday, April 7th. Finally, Wells Fargo & Company reduced their price target on Trane Technologies from $153.00 to $131.00 in a report on Monday, May 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $180.20.

TT stock traded down $3.37 during mid-day trading on Tuesday, hitting $137.13. 14,313 shares of the company were exchanged, compared to its average volume of 1,462,978. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market cap of $32.07 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.77 and a beta of 1.03. The firm’s 50 day simple moving average is $144.46 and its 200 day simple moving average is $165.39. Trane Technologies has a 1-year low of $128.13 and a 1-year high of $207.06.

Trane Technologies (NYSE:TTGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.12. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business earned $1.01 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies will post 7.06 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of TT. Rehmann Capital Advisory Group lifted its stake in shares of Trane Technologies by 4.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,447 shares of the company’s stock valued at $250,000 after purchasing an additional 56 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of Trane Technologies by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,401 shares of the company’s stock worth $889,000 after purchasing an additional 59 shares during the last quarter. OLD Second National Bank of Aurora raised its stake in shares of Trane Technologies by 15.4% in the fourth quarter. OLD Second National Bank of Aurora now owns 450 shares of the company’s stock worth $65,000 after purchasing an additional 60 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Trane Technologies by 1.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,847 shares of the company’s stock worth $777,000 after acquiring an additional 61 shares during the period. Finally, ARGI Investment Services LLC grew its holdings in shares of Trane Technologies by 2.7% in the fourth quarter. ARGI Investment Services LLC now owns 2,414 shares of the company’s stock worth $488,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 80.55% of the company’s stock.

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.

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