Trane Technologies (NYSE:TT) Price Target Raised to $520.00 at Morgan Stanley

Key Points

• Morgan Stanley raised its price target for Trane Technologies from $445.00 to $520.00, indicating a potential upside of 18.66% from its current price.
• Other brokerages have varied opinions on Trane Technologies, with HSBC downgrading it to a "hold" rating while UBS Group and JPMorgan Chase & Co. have set targets of $500.00 and $400.00, respectively.
• In its latest earnings report, Trane Technologies reported an EPS of $3.88, slightly exceeding analyst expectations and reflecting a 7.6% year-over-year revenue increase.

Trane Technologies (NYSE:TT - Get Free Report) had its target price increased by stock analysts at Morgan Stanley from $445.00 to $520.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 18.66% from the company's current price.

Several other brokerages have also commented on TT. HSBC lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $460.00 price objective for the company. in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. UBS Group upped their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Royal Bank Of Canada increased their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $454.67.

Trane Technologies Trading Up 1.6%

Shares of TT traded up $6.80 during mid-day trading on Thursday, reaching $438.24. The company's stock 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 PE ratio of 36.47, a P/E/G ratio of 3.06 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $476.18. The company's fifty day moving average price is $434.98 and its two-hundred day moving average price is $387.79.

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

Hedge Funds Weigh In On Trane Technologies

Large investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in shares of Trane Technologies during the second quarter valued at about $28,000. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at about $26,000. WFA Asset Management Corp increased its holdings in Trane Technologies by 208.3% in the 1st 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 period. Vermillion & White Wealth Management Group LLC acquired a new position in Trane Technologies in the 4th quarter worth approximately $28,000. Finally, Saudi Central Bank acquired a new position in Trane Technologies in the 1st quarter worth approximately $30,000. 82.97% of the stock is currently owned by institutional investors.

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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