Trane Technologies (NYSE:TT) Price Target Raised to $326.00

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

Several other equities research analysts have also commented on TT. Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a research note on Wednesday. Stephens lifted their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a research report on Wednesday. Citigroup upped their target price on Trane Technologies from $309.00 to $355.00 and gave the company a buy rating in a research report on Monday, April 8th. Barclays lifted their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Finally, Robert W. Baird upped 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $300.54.

Trane Technologies Trading Up 0.8 %

NYSE:TT opened at $319.29 on Wednesday. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $327.09. The stock has a market cap of $72.27 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.52 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 has a 50-day simple moving average of $295.83 and a 200-day simple moving average of $257.93.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results 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. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. 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 prior year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts anticipate that Trane Technologies will post 10.47 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. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on 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 sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on 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 owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the sale, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC acquired a new position in Trane Technologies during the fourth quarter worth about $25,000. Motco acquired a new position in Trane Technologies during the fourth quarter worth about $27,000. Sachetta LLC acquired a new position in Trane Technologies during the fourth quarter worth about $27,000. GoalVest Advisory LLC grew its position in Trane Technologies by 157.1% during the first 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 Trane Technologies during the first quarter worth about $27,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Trane Technologies

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.