Trane Technologies (NYSE:TT) Given New $366.00 Price Target at Citigroup

Trane Technologies (NYSE:TT) had its target price hoisted by Citigroup from $355.00 to $366.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on TT. Robert W. Baird upped their price objective on Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a research report on Wednesday. Mizuho upped their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a research report on Wednesday. Barclays upped their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group upped their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Stephens upped their price objective on Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of Hold and a consensus price target of $288.38.

Trane Technologies Stock Performance

TT opened at $315.08 on Wednesday. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $327.09. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The company has a market cap of $71.39 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.54 and a beta of 1.05. The firm’s 50-day moving average price is $294.39 and its 200-day moving average price is $256.74.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Trane Technologies will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business 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 dividend yield of 1.07%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $11,591,469.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Keith A. Sultana sold 1,983 shares of the 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 transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the stock in a transaction on 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 of the company’s stock, valued at $24,449,442.98. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 in the last three months. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trane Technologies

Hedge funds have recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC purchased a new position in Trane Technologies during the 3rd quarter valued at about $208,000. Commonwealth Equity Services LLC boosted its holdings in Trane Technologies by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock valued at $8,442,000 after acquiring an additional 793 shares during the period. Pinnacle Associates Ltd. boosted its holdings in 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 acquiring an additional 1,518 shares during the period. Dakota Wealth Management purchased a new position in Trane Technologies during the 3rd quarter valued at about $215,000. Finally, Birchcreek Wealth Management LLC purchased a new position in Trane Technologies during the 3rd quarter valued at about $203,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.