Mizuho Raises Trane Technologies (NYSE:TT) Price Target to $325.00

Trane Technologies (NYSE:TT) had its price target increased by Mizuho from $280.00 to $325.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Stephens lifted their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a research report on Friday, February 2nd. 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. Finally, Barclays boosted their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $300.54.

Trane Technologies Stock Performance

Shares of TT opened at $319.29 on Wednesday. The firm’s 50 day moving average is $295.83 and its 200-day moving average is $257.93. 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. 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 released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. Equities research analysts anticipate that Trane Technologies will post 10.47 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value 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 $17,673,237.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO David S. Regnery sold 6,990 shares of the business’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 directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of the business’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 owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock worth $8,024,534 over the last ninety days. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Trane Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth $25,000. Motco acquired a new stake in shares of Trane Technologies in the fourth quarter worth $27,000. Sachetta LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth $27,000. GoalVest Advisory LLC increased its position in Trane Technologies by 157.1% during 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 first quarter worth $27,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.