Stephens Boosts Trane Technologies (NYSE:TT) Price Target to $320.00

Trane Technologies (NYSE:TT) had its target price increased by Stephens from $310.00 to $320.00 in a report published on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird lifted their target price on Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a report on Wednesday. Citigroup lifted their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a buy rating in a research note on Monday, April 8th. Royal Bank of Canada increased 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. Barclays raised their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a neutral rating in a research note on Monday, February 5th. 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 data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $300.54.

Trane Technologies Trading Up 0.8 %

NYSE TT opened at $319.34 on Wednesday. The company has a 50-day moving average of $295.08 and a 200-day moving average of $257.16. 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. The company has a market cap 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.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. As a group, equities analysts predict that Trane Technologies will post 10.47 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling

In related news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on 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 directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 28,237 shares of company stock valued at $8,024,534 in the last quarter. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently modified their holdings of the stock. GoalVest Advisory LLC increased its holdings in Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $25,000. Finally, Sachetta LLC bought a new position in Trane Technologies during the fourth quarter worth $27,000. 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.