Trane Technologies (NYSE:TT) Price Target Raised to $320.00 at Stephens

Trane Technologies (NYSE:TT) had its price target upped by Stephens from $310.00 to $320.00 in a research note released on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird upped their target price on Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a neutral rating in a report on Monday, February 5th. Royal Bank of Canada lifted their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. Citigroup increased their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, Barclays raised their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. One equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $288.38.

Trane Technologies Price Performance

Shares of TT stock opened at $315.08 on Wednesday. The firm has a market capitalization 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 quick ratio of 0.78 and a current ratio of 1.13. The stock’s 50-day simple moving average is $294.39 and its 200-day simple moving average is $256.74. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $327.09.

Trane Technologies (NYSE:TT) last released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, equities analysts forecast that Trane Technologies will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s 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 sale, the chief financial officer now directly owns 54,788 shares in the company, valued at approximately $14,700,168.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,237 shares of company stock valued at $8,024,534. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

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