Citigroup Raises Trane (NYSE:TT) Price Target to $125.00

Trane (NYSE:TT) had its price objective increased by Citigroup from $106.00 to $125.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Robert W. Baird cut their price target on Trane from $90.00 to $80.00 and set a neutral rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley increased their target price on Trane from $112.00 to $119.00 and gave the company an overweight rating in a research note on Thursday. Credit Suisse Group increased their target price on Trane from $108.00 to $117.00 and gave the company an outperform rating in a research note on Thursday. Zacks Investment Research raised Trane from a sell rating to a hold rating in a research note on Wednesday, June 17th. Finally, Cowen lowered Trane from an outperform rating to a market perform rating and cut their target price for the company from $107.00 to $85.00 in a research note on Thursday, May 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Trane currently has an average rating of Hold and an average price target of $102.79.

Shares of TT opened at $111.87 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. Trane has a 12-month low of $70.00 and a 12-month high of $146.85. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 28.18 and a beta of 1.36. The firm’s fifty day moving average price is $94.48.

Trane (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.50. Trane had a return on equity of 18.82% and a net margin of 6.76%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.77 billion. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, equities analysts predict that Trane will post 3.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $2.12 annualized dividend and a dividend yield of 1.90%. Trane’s dividend payout ratio (DPR) is currently 33.28%.

In other Trane news, SVP Keith A. Sultana sold 1,314 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $101.35, for a total value of $133,173.90. Following the completion of the sale, the senior vice president now directly owns 22,317 shares in the company, valued at $2,261,827.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Comerica Bank grew its holdings in shares of Trane by 4.3% during the second quarter. Comerica Bank now owns 67,140 shares of the company’s stock worth $7,132,000 after buying an additional 2,772 shares in the last quarter. OLD Second National Bank of Aurora grew its stake in Trane by 66.7% in the second quarter. OLD Second National Bank of Aurora now owns 750 shares of the company’s stock valued at $67,000 after purchasing an additional 300 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Trane in the second quarter valued at approximately $211,000. UBS Group AG grew its stake in Trane by 16.4% in the second quarter. UBS Group AG now owns 679,171 shares of the company’s stock valued at $60,433,000 after purchasing an additional 95,688 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Trane by 6.8% in the second quarter. Park Avenue Securities LLC now owns 9,821 shares of the company’s stock valued at $874,000 after purchasing an additional 625 shares in the last quarter. Institutional investors and hedge funds own 79.59% of the company’s stock.

About Trane

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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