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

Trane Technologies (NYSE:TT) had its target price trimmed by Morgan Stanley from $550.00 to $535.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on TT. Wells Fargo & Company dropped their price objective on Trane Technologies from $415.00 to $375.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price target on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. UBS Group lowered their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Finally, Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $490.00 to $550.00 in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $475.60.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $391.02 on Tuesday. The company has a market capitalization of $86.71 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The company’s 50-day moving average is $402.57 and its 200 day moving average is $418.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. Trane Technologies has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm posted $3.37 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, equities research analysts forecast that Trane Technologies will post 12.83 earnings per share for the current year.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Trane Technologies by 1.7% during the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock valued at $8,657,398,000 after purchasing an additional 335,634 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after acquiring an additional 1,433,563 shares during the last quarter. State Street Corp grew its position in Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC increased its stake in Trane Technologies by 1.1% in the second quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after acquiring an additional 56,293 shares during the last quarter. Finally, Norges Bank purchased a new stake in Trane Technologies during the second quarter valued at about $1,356,065,000. 82.97% of the stock is currently owned by institutional investors.

About Trane Technologies

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.