Deutsche Bank Boosts Trane (NYSE:TT) Price Target to $111.00

Trane (NYSE:TT) had its price objective increased by Deutsche Bank from $100.00 to $111.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. They currently have a hold rating on the stock.

Several other brokerages have also recently issued reports on TT. Zacks Investment Research upgraded shares of Trane from a sell rating to a hold rating in a research report on Wednesday, June 17th. Royal Bank of Canada upped their target price on shares of Trane from $81.00 to $97.00 and gave the company a sector perform rating in a research report on Thursday. Cowen cut shares of Trane from an outperform rating to a market perform rating and decreased their target price for the company from $107.00 to $85.00 in a research report on Thursday, May 14th. Barclays upped their target price on shares of Trane from $102.00 to $120.00 and gave the company an overweight rating in a research report on Thursday. Finally, Cleveland Research assumed coverage on shares of Trane in a research report on Friday, April 24th. They set a neutral rating on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Trane currently has a consensus rating of Hold and a consensus target price of $102.79.

Shares of TT stock opened at $111.87 on Thursday. The stock has a market cap of $26.78 billion, a PE ratio of 28.18 and a beta of 1.36. Trane has a 52 week low of $70.00 and a 52 week high of $146.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.66. The business has a fifty day moving average of $94.48.

Trane (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.77 by $0.50. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Trane had a net margin of 6.76% and a return on equity of 18.82%. The business’s revenue was down 14.3% on a year-over-year basis. On average, research analysts forecast that Trane will post 3.13 EPS for the current fiscal year.

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

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

Hedge funds have recently modified their holdings of the business. Woodley Farra Manion Portfolio Management Inc. bought a new position in Trane in the 1st quarter worth about $25,000. Solstein Capital LLC bought a new position in Trane in the 1st quarter worth about $25,000. Global Retirement Partners LLC bought a new position in Trane in the 1st quarter worth about $25,000. Oppenheimer Asset Management Inc. bought a new position in Trane in the 1st quarter worth about $25,000. Finally, Glassman Wealth Services bought a new position in Trane in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 79.59% of the company’s stock.

Trane Company Profile

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.

Further Reading: Consumer behavior in bull markets

Analyst Recommendations for Trane (NYSE:TT)

Receive News & Ratings for Trane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane and related companies with MarketBeat.com's FREE daily email newsletter.