Trane Technologies (NYSE:TT) Given New $295.00 Price Target at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective raised by Wells Fargo & Company from $281.00 to $295.00 in a research report released on Thursday, Benzinga reports. The firm currently has an underweight rating on the stock.

Other research analysts have also recently issued reports about the company. Stephens boosted their target price on Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a research note on Wednesday. Robert W. Baird boosted their price objective on Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research report on Wednesday. Royal Bank of Canada raised their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. TD Cowen lifted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a research note on Wednesday. Finally, Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of Hold and a consensus target price of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of Trane Technologies stock traded up $2.50 on Thursday, hitting $319.29. 1,074,535 shares of the company’s stock traded hands, compared to its average volume of 1,049,630. The firm’s 50-day moving average price is $295.83 and its two-hundred day moving average price is $257.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. The stock has a market capitalization of $72.27 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. Trane Technologies has a one year low of $162.04 and a one year high of $327.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, research analysts expect that Trane Technologies will post 10.47 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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 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 Transactions at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock valued at $8,024,534 over the last 90 days. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after buying an additional 436,997 shares during the last quarter. Xponance Inc. increased its holdings in shares of Trane Technologies by 18.6% in the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after purchasing an additional 6,869 shares during the last quarter. CHICAGO TRUST Co NA increased its holdings in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after purchasing an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Trane Technologies by 60.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after purchasing an additional 42,409 shares during the last quarter. Finally, Wealth Effects LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at $239,000. 82.97% of the stock is currently 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.