Trane Technologies (NYSE:TT) Given New $344.00 Price Target at Robert W. Baird

Trane Technologies (NYSE:TT) had its target price lifted by Robert W. Baird from $315.00 to $344.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the company. Barclays lifted their price target 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 target price on 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 increased their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a neutral rating in a report on Monday, February 5th. Stephens upped their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a report on Friday, February 2nd. 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 stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of Hold and an average target price of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of Trane Technologies stock opened at $319.29 on Wednesday. The stock has a market capitalization of $72.27 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.52 and a beta of 1.01. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $327.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. The stock’s 50-day simple moving average is $295.83 and its 200 day simple moving average is $257.93.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. As a group, research analysts anticipate that Trane Technologies will post 10.47 EPS for the current year.

Trane Technologies Announces Dividend

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

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul A. Camuti sold 5,643 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.30, for a total value of $1,626,876.90. Following the completion of the sale, the executive vice president now directly owns 88,770 shares of the company’s stock, valued at approximately $25,592,391. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,237 shares of company stock valued at $8,024,534. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TT. BKM Wealth Management LLC purchased a new position in Trane Technologies during the 4th quarter valued at about $25,000. Motco bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. Sachetta LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC boosted its holdings in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies during the 1st quarter valued at $27,000. 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.