Trane Technologies (NYSE:TT) Price Target Lowered to $165.00 at Barclays

Trane Technologies (NYSE:TT – Get Rating) had its target price lowered by Barclays from $180.00 to $165.00 in a report issued on Tuesday, The Fly reports. The firm currently has an overweight rating on the stock.

TT has been the subject of several other research reports. Wells Fargo & Company reduced their target price on shares of Trane Technologies from $153.00 to $131.00 in a research note on Monday, May 9th. Wolfe Research reduced their target price on shares of Trane Technologies from $210.00 to $202.00 and set a peer perform rating for the company in a research note on Tuesday, February 1st. Credit Suisse Group reduced their price objective on shares of Trane Technologies from $194.00 to $178.00 in a research note on Thursday, May 5th. The Goldman Sachs Group reduced their price objective on shares of Trane Technologies from $180.00 to $157.00 and set a neutral rating for the company in a research note on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Trane Technologies from $171.00 to $162.00 in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $184.07.

Shares of NYSE:TT opened at $140.50 on Tuesday. The stock has a market cap of $32.86 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.65 and a beta of 1.03. The firm has a fifty day moving average price of $144.78 and a 200 day moving average price of $166.09. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.31 and a quick ratio of 0.91. Trane Technologies has a 1-year low of $128.13 and a 1-year high of $207.06.

Trane Technologies (NYSE:TT – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.00 by $0.12. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business earned $1.01 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Sell-side analysts expect that Trane Technologies will post 7.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, June 2nd. This represents a $2.68 annualized dividend and a yield of 1.91%. Trane Technologies’s dividend payout ratio (DPR) is currently 44.59%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Canton Hathaway LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $25,000. Arlington Partners LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth about $25,000. Herold Advisors Inc. acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $32,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Trane Technologies in the first quarter worth approximately $34,000. 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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