Trane Technologies (NYSE:TT) PT Raised to $300.00

Trane Technologies (NYSE:TT) had its price objective increased by JPMorgan Chase & Co. from $247.00 to $300.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on TT. The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. TD Cowen boosted their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Citigroup raised their price target on Trane Technologies from $355.00 to $366.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Mizuho boosted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Finally, Barclays raised their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of TT stock opened at $319.29 on Thursday. The business’s fifty day moving average price is $295.83 and its 200 day moving average price is $258.71. The firm has a market capitalization of $72.27 billion, a PE ratio of 34.11, a P/E/G ratio of 2.54 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 1-year low of $162.04 and a 1-year high of $327.09.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the company posted $1.41 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Trane Technologies will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

Insider Activity

In related news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now directly 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 a total of 28,237 shares of company stock valued at $8,024,534 over the last quarter. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TT. SPC Financial Inc. purchased a new position in Trane Technologies in the first quarter valued at approximately $209,000. 9258 Wealth Management LLC raised its stake in shares of Trane Technologies by 1.5% in the 1st quarter. 9258 Wealth Management LLC now owns 3,706 shares of the company’s stock valued at $1,113,000 after acquiring an additional 54 shares during the period. Team Hewins LLC lifted its holdings in shares of Trane Technologies by 1.6% during the 1st quarter. Team Hewins LLC now owns 2,716 shares of the company’s stock valued at $815,000 after acquiring an additional 43 shares in the last quarter. Richardson Financial Services Inc. boosted its position in Trane Technologies by 12.9% during the 1st quarter. Richardson Financial Services Inc. now owns 2,403 shares of the company’s stock worth $721,000 after purchasing an additional 275 shares during the period. Finally, Catalina Capital Group LLC acquired a new stake in Trane Technologies in the 1st quarter valued at $217,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.