Trane Technologies (NYSE:TT) Price Target Raised to $295.00

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

TT has been the subject of a number of other reports. Barclays increased 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. Stephens increased their price target on Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a research report on Wednesday. Mizuho increased their price target on Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a research report on Wednesday. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a research report on Friday, February 2nd. Finally, TD Cowen increased their price target on Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of Hold and an average target price of $300.54.

Trane Technologies Stock Up 0.8 %

Shares of NYSE TT traded up $2.50 during trading on Thursday, hitting $319.29. The stock had a trading volume of 1,074,535 shares, compared to its average volume of 1,049,630. The firm has a fifty day moving average of $295.83 and a two-hundred day moving average of $257.93. The company has a market capitalization of $72.27 billion, a PE ratio of 34.12, a PEG ratio of 2.52 and a beta of 1.01. 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 12 month low of $162.04 and a 12 month high of $327.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts forecast that Trane Technologies will post 10.47 EPS 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. Stockholders of record on Friday, June 7th will be given a $0.84 dividend. 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 (DPR) is presently 35.90%.

Insider Buying and Selling

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. In the last quarter, 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 Investors Weigh In On Trane Technologies

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its position in Trane Technologies by 1.9% in the third 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 in the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Trane Technologies by 17.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock valued at $2,110,000 after buying an additional 1,518 shares in the last quarter. Dakota Wealth Management bought a new stake in Trane Technologies in the 3rd quarter worth approximately $215,000. Stratos Wealth Partners LTD. lifted its position in Trane Technologies by 2.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company’s stock worth $931,000 after buying an additional 117 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in Trane Technologies by 5.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,328 shares of the company’s stock worth $270,000 after buying an additional 66 shares during the last quarter. 82.97% of the stock is currently owned by 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.