Morgan Stanley Boosts Trane Technologies (NYSE:TT) Price Target to $193.00

Morgan Stanley Boosts Trane Technologies (NYSE:TT) Price Target to $193.00

Trane Technologies logoTrane Technologies (NYSE:TT – Get Rating) had its price target raised by Morgan Stanley from $183.00 to $193.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 8.12% from the company’s current price.

Other analysts also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Trane Technologies from $155.00 to $162.00 and gave the company a “sector performance” rating in a research report on Thursday, November 3rd. Credit Suisse Group lifted their target price on Trane Technologies from $175.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Argus lifted their target price on Trane Technologies from $170.00 to $185.00 in a research report on Tuesday, November 8th. Citigroup lifted their target price on Trane Technologies from $185.00 to $204.00 in a research report on Friday, December 9th. Finally, Barclays boosted their price target on Trane Technologies from $190.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $173.61.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $178.50 on Friday. The firm has a market cap of $41.11 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The stock’s 50-day moving average is $172.55 and its 200-day moving average is $156.42. Trane Technologies has a one year low of $120.64 and a one year high of $197.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.14 and a quick ratio of 0.78.

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Trane Technologies (NYSE:TT – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.15. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.16 billion. Trane Technologies has a return on equity of 27.32% and a net margin of 10.56%. Equities analysts predict that Trane Technologies will post 7.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David S. Regnery sold 14,651 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $179.00, for a total value of $2,622,529.00. Following the transaction, the chief executive officer now owns 95,751 shares of the company’s stock, valued at $17,139,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Mairead Magner sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the senior vice president now directly owns 11,079 shares in the company, valued at $1,772,640. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 14,651 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $179.00, for a total value of $2,622,529.00. Following the completion of the sale, the chief executive officer now owns 95,751 shares of the company’s stock, valued at $17,139,429. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,654 shares of company stock valued at $6,867,700. 0.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently made changes to their positions in TT. Acadian Asset Management LLC bought a new stake in shares of Trane Technologies in the first quarter valued at approximately $178,000. Blair William & Co. IL boosted its stake in shares of Trane Technologies by 3.0% in the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after buying an additional 495 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Trane Technologies during the first quarter worth $219,000. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after purchasing an additional 77,924 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Trane Technologies by 3.8% during the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock worth $146,008,000 after purchasing an additional 34,591 shares during the last quarter. 81.47% of the stock is currently owned by institutional investors.

Trane Technologies Company Profile

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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; generators; 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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Analyst Recommendations for Trane Technologies (NYSE:TT)

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