Trane Technologies (NYSE:TT) Price Target Raised to $326.00

Trane Technologies (NYSE:TT) had its price objective boosted by The Goldman Sachs Group from $287.00 to $326.00 in a research report released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

TT has been the topic of a number of other research reports. Citigroup upped their target price on Trane Technologies from $309.00 to $355.00 and gave the company a buy rating in a research note on Monday, April 8th. Barclays increased their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a research note on Friday, February 2nd. Mizuho raised their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of Hold and a consensus price target of $300.54.

Trane Technologies Trading Up 0.8 %

TT opened at $319.29 on Wednesday. The stock has a 50-day moving average of $295.83 and a 200 day moving average of $257.93. 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 firm has a market cap 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 (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping 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 firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts forecast that Trane Technologies will post 10.47 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.84 per share. 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 35.90%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction 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 in the company, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction 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 directly owns 61,691 shares in the company, valued at $17,673,237.68. 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 90 days. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Trane Technologies

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Xponance Inc. increased its stake in Trane Technologies by 18.6% during the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after purchasing an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA raised its holdings in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after buying an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after buying an additional 42,409 shares during the period. Finally, Wealth Effects LLC purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $239,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.