Morgan Stanley Cuts Trane Technologies (NYSE:TT) Price Target to $535.00

Trane Technologies (NYSE:TT) had its target price trimmed by Morgan Stanley from $550.00 to $535.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $475.60.

Trane Technologies Stock Up 0.4%

Shares of TT opened at $387.38 on Tuesday. The company has a market capitalization of $85.90 billion, a P/E ratio of 29.80, a PEG ratio of 1.93 and a beta of 1.21. Trane Technologies has a one year low of $298.15 and a one year high of $476.18. The business’s 50 day simple moving average is $400.58 and its 200-day simple moving average is $417.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.08. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies will post 12.83 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the period. Parallel Advisors LLC lifted its holdings in Trane Technologies by 4.1% during the second quarter. Parallel Advisors LLC now owns 3,056 shares of the company’s stock worth $1,337,000 after acquiring an additional 120 shares in the last quarter. Apella Capital LLC grew its stake in Trane Technologies by 2.0% in the second quarter. Apella Capital LLC now owns 2,388 shares of the company’s stock valued at $1,038,000 after acquiring an additional 46 shares during the period. Goldstone Financial Group LLC increased its holdings in shares of Trane Technologies by 30.1% in the second quarter. Goldstone Financial Group LLC now owns 1,345 shares of the company’s stock worth $588,000 after acquiring an additional 311 shares in the last quarter. Finally, Everpar Advisors LLC increased its holdings in shares of Trane Technologies by 14.7% in the second quarter. Everpar Advisors LLC now owns 895 shares of the company’s stock worth $391,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.