The Goldman Sachs Group Boosts Trane Technologies (NYSE:TT) Price Target to $326.00

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

Other research analysts have also issued research reports about the company. Citigroup increased their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a buy rating in a report on Monday, April 8th. Royal Bank of Canada upped their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a research report on Friday, February 2nd. Robert W. Baird lifted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research report on Wednesday. Stephens upped their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a report on Wednesday. Finally, Mizuho lifted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $288.38.

Trane Technologies Stock Down 0.7 %

Shares of Trane Technologies stock opened at $315.08 on Wednesday. The stock’s 50-day moving average is $294.39 and its 200 day moving average is $256.74. Trane Technologies has a one year low of $162.04 and a one year high of $327.09. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 2.61 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 (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies will post 10.49 EPS for the current year.

Trane Technologies Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.07%. Trane Technologies’s payout ratio is presently 35.90%.

Insider Activity

In related news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Evan M. Turtz sold 2,821 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares in the company, valued at $5,976,792.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. 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 three months. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors have recently bought and sold shares of the company. Center for Financial Planning Inc. lifted its holdings in Trane Technologies by 1.7% during the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after purchasing an additional 34 shares during the last quarter. Keel Point LLC raised its position in shares of Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares during the period. Rosenberg Matthew Hamilton lifted its stake in shares of Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Trane Technologies by 2.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after buying an additional 42 shares during the period. Finally, Level Four Advisory Services LLC grew its stake in Trane Technologies by 1.5% in the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after buying an additional 42 shares in the last quarter. Hedge funds and other 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.