Trane Technologies (NYSE:TT) Price Target Raised to $169.00

Trane Technologies (NYSE:TTGet Rating) had its target price raised by investment analysts at Credit Suisse Group from $165.00 to $169.00 in a report issued on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would indicate a potential upside of 9.50% from the company’s current price.

TT has been the topic of several other research reports. Wells Fargo & Company raised their price target on Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a report on Thursday. Barclays raised their price target on Trane Technologies from $160.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday. Cowen raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their price target on Trane Technologies from $162.00 to $146.00 and set a “hold” rating on the stock in a report on Wednesday, July 13th. Finally, Morgan Stanley raised their price target on Trane Technologies from $153.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $170.13.

Trane Technologies Price Performance

Shares of NYSE TT opened at $154.34 on Thursday. Trane Technologies has a fifty-two week low of $120.64 and a fifty-two week high of $204.23. The business has a 50 day moving average price of $134.28 and a two-hundred day moving average price of $145.21. The company has a quick ratio of 0.91, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. The firm has a market cap of $36.09 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Trane Technologies (NYSE:TTGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.10 by $0.06. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a return on equity of 25.03% and a net margin of 10.06%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. Sell-side analysts expect that Trane Technologies will post 7.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds have recently modified their holdings of TT. Crewe Advisors LLC grew its holdings in shares of Trane Technologies by 83.9% in the 2nd quarter. Crewe Advisors LLC now owns 206 shares of the company’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Herold Advisors Inc. acquired a new position in shares of Trane Technologies in the 1st quarter worth $31,000. Riverview Trust Co purchased a new position in shares of Trane Technologies during the first quarter valued at $32,000. 1832 Asset Management L.P. purchased a new position in shares of Trane Technologies during the first quarter valued at $34,000. Finally, Bartlett & Co. LLC purchased a new position in shares of Trane Technologies during the second quarter valued at $35,000. 80.55% of the stock is currently owned by institutional investors and hedge funds.

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; gensets; 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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