Trane Technologies (NYSE:TT) Price Target Raised to $395.00

Trane Technologies (NYSE:TT) had its target price increased by Royal Bank of Canada from $390.00 to $395.00 in a report issued on Friday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities analysts also recently issued reports on TT. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective on the stock. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Morgan Stanley initiated coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $413.14.

Trane Technologies Stock Up 1.9 %

TT opened at $381.11 on Friday. Trane Technologies has a 52 week low of $236.33 and a 52 week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $396.48 and a two-hundred day moving average price of $370.12. The company has a market cap of $85.76 billion, a PE ratio of 35.35, a P/E/G ratio of 2.38 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. As a group, research analysts anticipate that Trane Technologies will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of hedge funds have recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at about $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies during the third quarter valued at about $36,000. Quarry LP purchased a new stake in shares of Trane Technologies during the second quarter worth about $39,000. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth about $39,000. 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.