Trane Technologies (NYSE:TT) Given New $360.00 Price Target at TD Cowen

Trane Technologies (NYSE:TT) had its price objective raised by TD Cowen from $325.00 to $360.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. Mizuho increased their price target on Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a research note on Wednesday. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Stephens upped their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, Robert W. Baird increased their target price 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 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 company. According to MarketBeat.com, Trane Technologies has an average rating of Hold and an average price target of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of TT stock opened at $319.29 on Wednesday. The firm has a market capitalization of $72.27 billion, a PE ratio of 34.11, a price-to-earnings-growth 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. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $327.09. The stock has a fifty day moving average of $295.83 and a two-hundred day moving average of $257.93.

Trane Technologies (NYSE:TT) last announced its 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. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, research analysts expect that Trane Technologies will post 10.47 EPS for the current year.

Trane Technologies Dividend Announcement

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 $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently made changes to their positions in the company. Center for Financial Planning Inc. lifted its stake in Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after acquiring an additional 34 shares during the last quarter. Keel Point LLC raised its holdings in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after purchasing an additional 39 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after purchasing an additional 42 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in Trane Technologies by 1.5% in the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock worth $672,000 after purchasing an additional 42 shares in the last quarter. 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.