TD Cowen Boosts Trane Technologies (NYSE:TT) Price Target to $360.00

Trane Technologies (NYSE:TT) had its target price raised by TD Cowen from $325.00 to $360.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

TT has been the subject of several other reports. Robert W. Baird lifted their price objective on Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a research report on Wednesday. Citigroup upped their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a buy rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research report on Wednesday. Stephens upped their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a report on Wednesday. Finally, Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of TT stock opened at $319.34 on Wednesday. The stock has a market cap of $72.28 billion, a P/E ratio of 34.12, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $327.09. The business has a fifty day simple moving average of $295.08 and a 200-day simple moving average of $257.16.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. On average, analysts forecast that Trane Technologies will post 10.47 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock valued at $8,024,534 over the last quarter. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Trane Technologies

A number of institutional investors have recently added to or reduced their stakes in TT. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at about $208,000. Commonwealth Equity Services LLC boosted its holdings in Trane Technologies by 1.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock worth $8,442,000 after acquiring an additional 793 shares during the period. Pinnacle Associates Ltd. grew its position in Trane Technologies by 17.1% in the third quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock valued at $2,110,000 after acquiring an additional 1,518 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Trane Technologies during the third quarter valued at approximately $215,000. Finally, Birchcreek Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter worth $203,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.