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

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

Other research analysts have also recently issued reports about the company. Robert W. Baird increased their price target on Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research report on Wednesday. Mizuho raised their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a research note on Wednesday. Citigroup boosted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a buy rating in a research report on Monday, April 8th. Stephens raised their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a research note on Wednesday. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $300.54.

Trane Technologies Price Performance

TT stock opened at $319.34 on Wednesday. The stock has a 50-day moving average price of $295.08 and a two-hundred day moving average price of $257.16. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $327.09. The stock has a market cap of $72.28 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. 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 (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. Trane Technologies’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. Equities analysts forecast that Trane Technologies will post 10.47 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock worth $8,024,534 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. Richardson Financial Services Inc. raised its holdings in Trane Technologies by 12.9% during the first quarter. Richardson Financial Services Inc. now owns 2,403 shares of the company’s stock worth $721,000 after buying an additional 275 shares during the last quarter. Catalina Capital Group LLC bought a new stake in shares of Trane Technologies during the first quarter worth about $217,000. TFB Advisors LLC acquired a new stake in shares of Trane Technologies in the 1st quarter worth about $265,000. Mediolanum International Funds Ltd bought a new position in Trane Technologies in the 1st quarter valued at about $6,871,000. Finally, Callan Capital LLC boosted its stake in Trane Technologies by 6.9% during the 1st quarter. Callan Capital LLC now owns 1,724 shares of the company’s stock valued at $518,000 after purchasing an additional 112 shares during the last quarter. Institutional investors 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.