Trane Technologies (NYSE:TT) Shares Gap Up to $300.86

Trane Technologies plc (NYSE:TT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $300.86, but opened at $314.98. Trane Technologies shares last traded at $323.76, with a volume of 552,064 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TT. Citigroup lifted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays lifted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Stephens boosted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada boosted 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $251.83.

Trane Technologies Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. The business’s fifty day simple moving average is $292.79 and its 200-day simple moving average is $255.54. The firm has a market capitalization of $72.22 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. As a group, equities research analysts expect that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

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 given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated 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 completion of 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 ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in Trane Technologies in the fourth quarter valued at approximately $25,000. Motco acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $27,000. Sachetta LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $27,000. GoalVest Advisory LLC raised its stake in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after buying an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies during the 1st quarter worth approximately $27,000. 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.