Trane Technologies (NYSE:TT) Price Target Raised to $467.00 at Royal Bank Of Canada

Trane Technologies (NYSE:TT) had its price objective boosted by investment analysts at Royal Bank Of Canada from $463.00 to $467.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 6.38% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. UBS Group boosted their price target on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lifted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $455.67.

Trane Technologies Stock Performance

TT opened at $439.01 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.74 and a debt-to-equity ratio of 0.50. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $476.18. The firm has a 50 day moving average of $435.56 and a two-hundred day moving average of $388.61. The firm has a market capitalization of $97.68 billion, a PE ratio of 34.81, a P/E/G ratio of 2.82 and a beta of 1.09.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.30 earnings per share. On average, analysts anticipate that Trane Technologies will post 12.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TT. CWA Asset Management Group LLC boosted its stake in Trane Technologies by 19.2% during the 1st quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock worth $382,000 after purchasing an additional 183 shares during the last quarter. Ethic Inc. lifted its stake in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company’s stock worth $9,190,000 after buying an additional 14,932 shares in the last quarter. Brighton Jones LLC boosted its position in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Trane Technologies by 495.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company’s stock valued at $1,433,000 after acquiring an additional 3,538 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Trane Technologies by 13.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company’s stock valued at $3,417,000 after acquiring an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Trane Technologies

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.