Barclays Cuts Trane Technologies (NYSE:TT) Price Target to $475.00

Trane Technologies (NYSE:TT) had its price target cut by Barclays from $500.00 to $475.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Melius Research reaffirmed a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $413.69.

Trane Technologies Stock Up 1.7 %

TT opened at $339.72 on Monday. Trane Technologies has a 12 month low of $285.62 and a 12 month high of $422.00. The company has a market cap of $76.20 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $366.02 and a 200 day moving average of $380.11.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, sell-side analysts expect that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.11%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Several large investors have recently modified their holdings of TT. Swedbank AB grew its position in shares of Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after buying an additional 20,400 shares during the last quarter. Equitable Trust Co. bought a new stake in Trane Technologies in the third quarter valued at $220,000. CWA Asset Management Group LLC bought a new stake in Trane Technologies in the third quarter valued at $386,000. Verdence Capital Advisors LLC increased its position in Trane Technologies by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,362 shares of the company’s stock valued at $529,000 after purchasing an additional 65 shares during the period. Finally, Assetmark Inc. raised its holdings in Trane Technologies by 1.8% in the 3rd quarter. Assetmark Inc. now owns 18,801 shares of the company’s stock worth $7,309,000 after purchasing an additional 327 shares in the last quarter. 82.97% of the stock is owned by 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.