UBS Group Increases Trane Technologies (NYSE:TT) Price Target to $544.00

Key Points

• UBS Group has raised Trane Technologies' price target from $500.00 to $544.00, reflecting a potential upside of 25.33% from its previous close.
• The company's quarterly earnings exceeded estimates, reporting $3.88 EPS, up from $3.30 EPS the previous year, despite revenue falling slightly short of expectations at $5.75 billion.
• Analysts have given Trane Technologies average ratings, with ten hold ratings and five buy ratings, resulting in an average target price of $458.60.

Trane Technologies (NYSE:TT - Get Free Report) had its target price boosted by UBS Group from $500.00 to $544.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 27.46% from the stock's previous close.

TT has been the subject of several other research reports. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Trading Down 0.5%

Shares of TT stock opened at $426.79 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market cap of $94.97 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.67 and a beta of 1.09. The company's 50-day moving average price is $435.50 and its 200-day moving average price is $389.47. Trane Technologies has a twelve month low of $298.15 and a twelve month high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. As a group, equities analysts predict that Trane Technologies will post 12.83 earnings per share for the current year.

Institutional Trading of Trane Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TT. WFA Asset Management Corp lifted its stake in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $28,000. Ameriflex Group Inc. bought a new position in Trane Technologies during the 2nd quarter valued at about $28,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company's stock valued at $29,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds 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.