Trane Technologies (NYSE:TT) PT Raised to $326.00

Trane Technologies (NYSE:TT) had its target price hoisted by The Goldman Sachs Group from $287.00 to $326.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on TT. Robert W. Baird boosted their price target on Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research note 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. Citigroup lifted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada upped their price objective on Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a research note on Friday, February 2nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of TT stock opened at $319.34 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. Trane Technologies has a 12-month low of $162.04 and a 12-month high of $327.09. The stock has a market capitalization 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 firm’s 50 day moving average is $295.08 and its 200 day moving average is $257.16.

Trane Technologies (NYSE:TT) last released its quarterly 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. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Research analysts expect that Trane Technologies will post 10.47 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.05%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 transaction of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares during the period. FMR LLC grew its holdings in Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Ameriprise Financial Inc. raised its position in Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after purchasing an additional 103,823 shares during the period. Morgan Stanley grew its stake in shares of Trane Technologies by 0.6% during the third 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 last quarter. Finally, Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $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.