Trane Technologies (NYSE:TT) Given New $467.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Trane Technologies from $463.00 to $467.00, indicating a potential upside of 6.56% from the stock's current price.
• The average target price for Trane Technologies, according to analysts, is currently $454.67, with the stock holding an average rating of "Hold."
• Trane Technologies reported a quarterly EPS of $3.88, exceeding analyst expectations, and the company's revenue for the quarter was $5.75 billion, up 7.6% year-over-year.

Trane Technologies (NYSE:TT - Get Free Report) had its price objective raised by analysts at Royal Bank Of Canada from $463.00 to $467.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 6.56% from the stock's current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird raised their price target on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $460.00 target price for the company. in a research report on Thursday. Finally, Citigroup lifted their target price on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $454.67.

Trane Technologies Trading Up 1.6%

Shares of NYSE:TT traded up $6.80 during trading on Thursday, hitting $438.24. The company had a trading volume of 927,671 shares, compared to its average volume of 1,491,047. The stock has a market cap of $97.74 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 3.06 and a beta of 1.15. Trane Technologies has a one year low of $298.15 and a one year high of $476.18. The company has a fifty day simple moving average of $434.98 and a two-hundred day simple moving average of $387.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the company earned $3.30 EPS. Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies will post 12.83 earnings per share for the current year.

Institutional Trading of Trane Technologies

Hedge funds have recently modified their holdings of the stock. WFA Asset Management Corp boosted its stake in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies in the 4th quarter worth about $28,000. Ameriflex Group Inc. acquired a new position in Trane Technologies in the 2nd quarter worth about $28,000. Finally, Saudi Central Bank acquired a new position in shares of Trane Technologies during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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