Trane (NYSE:TT) Price Target Raised to $119.00

Trane (NYSE:TT) had its target price lifted by Morgan Stanley from $112.00 to $119.00 in a research note released on Thursday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on TT. Citigroup dropped their price target on Trane from $97.00 to $93.00 and set a buy rating on the stock in a research note on Wednesday, May 6th. TheStreet raised Trane from a c+ rating to a b- rating in a research note on Monday, July 27th. Deutsche Bank dropped their price target on Trane from $95.00 to $86.00 and set a hold rating on the stock in a research note on Wednesday, May 6th. Wolfe Research cut Trane from a market perform rating to an underperform rating and set a $90.00 price target on the stock. in a research note on Wednesday, April 15th. Finally, Cleveland Research initiated coverage on Trane in a research note on Friday, April 24th. They issued 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 assigned a buy rating to the company’s stock. Trane presently has a consensus rating of Hold and an average price target of $102.79.

Shares of Trane stock opened at $111.87 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.20 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $94.48. Trane has a 52 week low of $70.00 and a 52 week high of $146.85. The company has a market capitalization of $26.78 billion, a PE ratio of 28.18 and a beta of 1.36.

Trane (NYSE:TT) last issued 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. Trane had a net margin of 6.76% and a return on equity of 18.82%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Trane’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities research analysts anticipate 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 paid a $0.53 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $2.12 annualized dividend and a dividend yield of 1.90%. Trane’s payout ratio is 33.28%.

In related news, SVP Keith A. Sultana sold 1,314 shares of the business’s stock in a transaction that occurred on 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 owns 22,317 shares of the company’s stock, valued at approximately $2,261,827.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.92% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cardan Capital Partners LLC lifted its holdings in Trane by 0.7% in the 2nd quarter. Cardan Capital Partners LLC now owns 32,176 shares of the company’s stock worth $2,863,000 after purchasing an additional 222 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. acquired a new stake in Trane in the 1st quarter worth approximately $25,000. OLD Second National Bank of Aurora lifted its holdings in Trane by 66.7% in the 2nd quarter. OLD Second National Bank of Aurora now owns 750 shares of the company’s stock worth $67,000 after purchasing an additional 300 shares during the last quarter. Solstein Capital LLC acquired a new stake in Trane in the 1st quarter worth approximately $25,000. Finally, Global Retirement Partners LLC acquired a new stake in Trane in the 1st quarter worth approximately $25,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Trane (NYSE:TT)

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