Trane (NYSE:TT) Shares Down 4.6% on Analyst Downgrade

Shares of Trane (NYSE:TT) traded down 4.6% on Monday after Morgan Stanley lowered their price target on the stock from $115.00 to $95.00. Morgan Stanley currently has an overweight rating on the stock. Trane traded as low as $73.42 and last traded at $72.19, 1,298,376 shares traded hands during mid-day trading. A decline of 55% from the average session volume of 2,876,828 shares. The stock had previously closed at $75.68.

A number of other brokerages have also recently weighed in on TT. Royal Bank of Canada dropped their price objective on shares of Trane from $134.00 to $99.00 and set a “sector perform” rating for the company in a report on Tuesday, March 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut shares of Trane from an “overweight” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Wednesday, March 18th. Credit Suisse Group assumed coverage on shares of Trane in a report on Wednesday, March 4th. They set an “outperform” rating and a $124.00 price target for the company. Barclays reiterated a “buy” rating and set a $125.00 price target on shares of Trane in a report on Friday, March 6th. Finally, Deutsche Bank assumed coverage on shares of Trane in a report on Tuesday, March 10th. They set a “hold” rating and a $114.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $108.14.

The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 1.28.

Trane (NYSE:TT) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.02). The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Trane had a return on equity of 21.72% and a net margin of 8.50%. Analysts forecast that Trane will post 5.14 earnings per share for the current year.

The business also recently disclosed a dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, March 12th. Trane’s dividend payout ratio is presently 33.28%.

About Trane (NYSE:TT)

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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