Credit Suisse Group Increases Trane Technologies (NYSE:TT) Price Target to $169.00

Trane Technologies (NYSE:TTGet Rating) had its price target increased by equities research analysts at Credit Suisse Group from $165.00 to $169.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 9.50% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Cowen upgraded Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Friday, July 8th. Wells Fargo & Company upped their price target on Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research note on Thursday. Mizuho upped their price target on Trane Technologies from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday. Cowen upgraded Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Friday, July 8th. Finally, Morgan Stanley upped their price target on Trane Technologies from $153.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $170.13.

Trane Technologies Stock Performance

Shares of TT opened at $154.34 on Thursday. The stock has a 50 day moving average price of $134.28 and a 200 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 company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. Trane Technologies has a 52-week low of $120.64 and a 52-week high of $204.23.

Trane Technologies (NYSE:TTGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.06. Trane Technologies had a return on equity of 25.03% and a net margin of 10.06%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Trane Technologies will post 7.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Trane Technologies by 12.3% in the 1st quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock worth $3,016,386,000 after purchasing an additional 2,159,166 shares during the period. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after purchasing an additional 77,924 shares during the period. State Street Corp raised its holdings in shares of Trane Technologies by 3.4% in the 4th quarter. State Street Corp now owns 10,764,373 shares of the company’s stock worth $2,174,726,000 after purchasing an additional 351,926 shares during the period. Geode Capital Management LLC raised its holdings in shares of Trane Technologies by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 4,554,635 shares of the company’s stock worth $917,883,000 after purchasing an additional 69,773 shares during the period. Finally, Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter worth about $578,209,000. 80.55% of the stock is currently owned by hedge funds and other institutional investors.

About Trane Technologies

(Get Rating)

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.

Read More

Analyst Recommendations for Trane Technologies (NYSE:TT)

Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.