Trane Technologies (NYSE:TT) Price Target Raised to $320.00

Trane Technologies (NYSE:TT) had its target price increased by Stephens from $310.00 to $320.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Citigroup lifted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a buy rating in a report on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the company a neutral rating in a research report on Monday, February 5th. Robert W. Baird upped their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a report on Friday, February 2nd. One 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 company presently has an average rating of Hold and a consensus price target of $300.54.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $319.34 on Wednesday. The firm has a 50 day moving average of $295.08 and a 200-day moving average of $257.16. Trane Technologies has a 12 month low of $162.04 and a 12 month high of $327.09. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $72.28 billion, a PE ratio of 34.12, a PEG ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The business 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 company’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 earnings per share. On average, equities research analysts predict that Trane Technologies will post 10.47 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred 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 owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Trane Technologies

Several hedge funds have recently modified their holdings of TT. JPMorgan Chase & Co. grew its holdings in Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares during the period. FMR LLC boosted its position in shares of Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after purchasing an additional 632,598 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after buying an additional 103,823 shares during the period. Morgan Stanley grew its stake in shares of Trane Technologies by 0.6% in the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after buying an additional 17,758 shares during the period. Finally, Norges Bank bought a new stake in Trane Technologies in the 4th quarter valued at about $655,804,000. Institutional investors own 82.97% of the company’s stock.

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.