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Trane Technologies (NYSE:TT) Given New $187.00 Price Target at Morgan Stanley

Last updated on Monday, April 19, 2021 | 2021 MarketBeat

Trane Technologies (NYSE:TT) had its price objective lifted by research analysts at Morgan Stanley from $168.00 to $187.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 8.75% from the company's previous close.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on Trane Technologies from $173.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, April 13th. Royal Bank of Canada boosted their target price on Trane Technologies from $137.00 to $145.00 and gave the stock a "sector perform" rating in a report on Monday, February 8th. They noted that the move was a valuation call. Zacks Investment Research lowered Trane Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, April 13th. Jefferies Financial Group boosted their target price on Trane Technologies from $140.00 to $160.00 and gave the stock a "hold" rating in a report on Friday, January 15th. Finally, Credit Suisse Group boosted their target price on Trane Technologies from $158.00 to $166.00 and gave the stock an "outperform" rating in a report on Monday, February 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of "Hold" and a consensus target price of $143.63.

Shares of NYSE TT opened at $171.96 on Monday. The firm has a market capitalization of $41.00 billion, a PE ratio of 46.10, a PEG ratio of 2.51 and a beta of 0.95. The company has a current ratio of 1.67, a quick ratio of 1.38 and a debt-to-equity ratio of 0.70. Trane Technologies has a one year low of $73.73 and a one year high of $172.46. The business has a 50-day moving average price of $163.93 and a two-hundred day moving average price of $147.55.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 4th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.92 by $0.11. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Trane Technologies had a return on equity of 18.42% and a net margin of 6.75%. Trane Technologies's quarterly revenue was down .2% on a year-over-year basis. Research analysts anticipate that Trane Technologies will post 4.29 EPS for the current year.

In other Trane Technologies news, EVP Marcia J. Avedon sold 2,737 shares of the business's stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $147.16, for a total value of $402,776.92. Also, SVP Keith A. Sultana sold 4,914 shares of the business's stock in a transaction on Friday, February 5th. The stock was sold at an average price of $150.32, for a total value of $738,672.48. Following the completion of the transaction, the senior vice president now directly owns 16,561 shares in the company, valued at approximately $2,489,449.52. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of TT. Sterling Financial Planning Inc. acquired a new position in Trane Technologies in the fourth quarter worth $26,000. Arkadios Wealth Advisors lifted its stake in shares of Trane Technologies by 180.0% during the fourth quarter. Arkadios Wealth Advisors now owns 182 shares of the company's stock valued at $26,000 after acquiring an additional 117 shares during the period. GPS Wealth Strategies Group LLC acquired a new position in shares of Trane Technologies during the first quarter valued at $28,000. Sage Private Wealth Group LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at $36,000. Finally, NuWave Investment Management LLC lifted its stake in shares of Trane Technologies by 1,056.5% during the fourth quarter. NuWave Investment Management LLC now owns 266 shares of the company's stock valued at $39,000 after acquiring an additional 243 shares during the period. 79.85% of the stock is currently owned by institutional investors.

About Trane Technologies

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

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