Morgan Stanley Forecasts Strong Price Appreciation for Trane Technologies (NYSE:TT) Stock

Trane Technologies (NYSE:TT) had its price target increased by analysts at Morgan Stanley from $445.00 to $520.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 18.45% from the company’s previous close.

TT has been the topic of a number of other research reports. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and increased their target price for the stock from $415.00 to $460.00 in a research report on Thursday. Citigroup boosted their price target on Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. The Goldman Sachs Group upped their target price on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $455.67.

Trane Technologies Price Performance

NYSE:TT opened at $439.01 on Thursday. The company has a market cap of $97.68 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.82 and a beta of 1.09. The firm’s fifty day moving average price is $435.56 and its two-hundred day moving average price is $388.61. Trane Technologies has a one year low of $298.15 and a one year high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last posted its 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. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Equities analysts expect that Trane Technologies will post 12.83 earnings per share for the current year.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Trane Technologies in the 4th quarter worth about $74,000. Headlands Technologies LLC bought a new position in Trane Technologies in the fourth quarter valued at about $131,000. Kesler Norman & Wride LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $483,000. Finally, Huntington National Bank grew its holdings in shares of Trane Technologies by 14.5% during the fourth quarter. Huntington National Bank now owns 6,105 shares of the company’s stock worth $2,255,000 after purchasing an additional 771 shares during the last quarter. 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.