Trane Technologies (NYSE:TT) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Trane Technologies (NYSE:TT) in a research note published on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $425.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the stock. Stephens reissued an equal weight rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company raised their price target on Trane Technologies from $310.00 to $315.00 and gave the stock an underweight rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a sector perform rating in a report on Thursday, August 1st. Barclays raised their target price on Trane Technologies from $385.00 to $394.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Finally, UBS Group upped their price target on Trane Technologies from $330.00 to $375.00 and gave the company a buy rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of Hold and an average price target of $337.29.

Trane Technologies Stock Performance

NYSE:TT opened at $342.07 on Friday. The company has a market capitalization of $77.43 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.51 and a beta of 1.01. The stock’s 50 day moving average price is $338.47 and its 200 day moving average price is $319.71. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $363.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.68 earnings per share. On average, research analysts forecast that Trane Technologies will post 10.82 EPS for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Motco purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $27,000. Sachetta LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $27,000. GoalVest Advisory LLC grew its holdings in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies during the 1st quarter valued at about $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies in the first quarter worth about $30,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.