Trane Technologies (NYSE:TT) Price Target Cut to $132.00 by Analysts at The Goldman Sachs Group

Trane Technologies (NYSE:TT – Get Rating) had its price target lowered by equities research analysts at The Goldman Sachs Group from $156.00 to $132.00 in a report issued on Thursday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 5.76% from the stock’s previous close.

A number of other analysts have also recently weighed in on TT. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $153.00 to $131.00 in a report on Monday, May 9th. Morgan Stanley cut their price target on shares of Trane Technologies from $169.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, May 31st. Credit Suisse Group cut their price target on shares of Trane Technologies from $194.00 to $178.00 in a report on Thursday, May 5th. Citigroup cut their price target on shares of Trane Technologies from $205.00 to $190.00 in a report on Thursday, May 5th. Finally, Barclays cut their price target on shares of Trane Technologies from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $176.93.

Shares of NYSE TT traded down $0.15 during mid-day trading on Thursday, reaching $124.81. 7,787 shares of the company traded hands, compared to its average volume of 1,133,411. The firm has a market cap of $29.19 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04. Trane Technologies has a fifty-two week low of $120.64 and a fifty-two week high of $207.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.31 and a quick ratio of 0.91. The stock has a fifty day simple moving average of $136.85 and a 200-day simple moving average of $158.47.

Trane Technologies (NYSE:TT – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. As a group, analysts predict that Trane Technologies will post 7.05 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in TT. CWM LLC bought a new position in Trane Technologies during the fourth quarter worth about $482,000. Keybank National Association OH boosted its position in Trane Technologies by 8.1% during the 4th quarter. Keybank National Association OH now owns 31,545 shares of the company’s stock worth $6,373,000 after buying an additional 2,356 shares during the period. BLB&B Advisors LLC boosted its position in Trane Technologies by 2.0% during the 4th quarter. BLB&B Advisors LLC now owns 41,329 shares of the company’s stock worth $8,350,000 after buying an additional 815 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Trane Technologies by 61.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,931,479 shares of the company’s stock worth $506,120,000 after purchasing an additional 1,116,733 shares during the last quarter. Finally, BOKF NA raised its holdings in Trane Technologies by 1.1% during the 4th quarter. BOKF NA now owns 10,583 shares of the company’s stock worth $2,138,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 80.55% of the company’s stock.

Trane Technologies Company Profile (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.

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