Trane Technologies (NYSE:TT) Price Target Raised to $326.00 at The Goldman Sachs Group

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

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada upped their price target on Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a research note on Friday, February 2nd. Barclays boosted their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Stephens lifted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a research report on Wednesday. Mizuho boosted 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. Finally, Robert W. Baird raised their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $288.38.

Trane Technologies Stock Down 0.7 %

Shares of NYSE:TT opened at $315.08 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a market cap of $71.39 billion, a P/E ratio of 33.66, a P/E/G ratio of 2.61 and a beta of 1.01. Trane Technologies has a 12 month low of $162.04 and a 12 month high of $327.09. The company’s 50-day moving average price is $294.39 and its two-hundred day moving average price is $256.74.

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

Trane Technologies Dividend Announcement

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

Insider Transactions at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred 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 transaction, 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 this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the business’s 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 sale, 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 company insiders.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC bought a new position in shares of Trane Technologies in the 3rd quarter valued at about $208,000. Commonwealth Equity Services LLC grew its stake in Trane Technologies by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock valued at $8,442,000 after purchasing an additional 793 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Trane Technologies by 17.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock worth $2,110,000 after purchasing an additional 1,518 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $215,000. Finally, Birchcreek Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter valued at $203,000. 82.97% of the stock is owned by institutional investors.

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.