Trane Technologies (NYSE:TT) Price Target Raised to $295.00 at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective boosted by Wells Fargo & Company from $281.00 to $295.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

TT has been the topic of several other research reports. Mizuho lifted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Stephens boosted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a research note on Wednesday, May 1st. TD Cowen raised their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Citigroup boosted their target price on Trane Technologies from $355.00 to $366.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $300.54.

Trane Technologies Stock Up 0.8 %

Shares of TT stock opened at $319.29 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies has a one year low of $162.04 and a one year high of $327.09. The company’s fifty day moving average price is $295.83 and its 200-day moving average price is $258.71. The company has a market capitalization of $72.27 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.54 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts expect that Trane Technologies will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced 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. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 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 through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. Insiders sold a total of 28,237 shares of company stock worth $8,024,534 over the last three months. 0.39% of the stock is owned by insiders.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. BKM Wealth Management LLC bought a new stake in Trane Technologies during the 4th quarter valued at $25,000. Motco purchased a new position in shares of Trane Technologies during the fourth quarter valued at $27,000. Sachetta LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at about $27,000. GoalVest Advisory LLC lifted its stake in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Trane Technologies during the 1st quarter worth about $27,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Company Profile

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.