Barclays Boosts Trane Technologies (NYSE:TT) Price Target to $394.00

Trane Technologies (NYSE:TT) had its target price increased by Barclays from $385.00 to $394.00 in a research note published on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Citigroup upped their target price on Trane Technologies from $355.00 to $366.00 and gave the company a buy rating in a report on Wednesday, May 1st. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $365.00 and gave the company a neutral rating in a report on Thursday. Stephens upped their target price on Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a report on Wednesday, May 1st. The Goldman Sachs Group upped their target price on Trane Technologies from $287.00 to $326.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Finally, UBS Group upped their target price on Trane Technologies from $330.00 to $375.00 and gave the company a buy rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $321.14.

Trane Technologies Stock Down 1.9 %

NYSE TT traded down $6.14 on Thursday, hitting $312.31. 573,506 shares of the stock traded hands, compared to its average volume of 1,127,675. The stock has a 50-day moving average of $331.66 and a 200 day moving average of $306.41. Trane Technologies has a twelve month low of $184.02 and a twelve month high of $351.41. The company has a market capitalization of $70.48 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Trane Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts expect that Trane Technologies will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.08%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TT. Motco purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $27,000. Sachetta LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth $27,000. GoalVest Advisory LLC increased its stake in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the first quarter worth $27,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies in the first quarter worth $30,000. Institutional investors and hedge funds 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.