Wells Fargo & Company Boosts Trane Technologies (NYSE:TT) Price Target to $310.00

Trane Technologies (NYSE:TT) had its price objective raised by Wells Fargo & Company from $295.00 to $310.00 in a research note released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other analysts also recently weighed in on TT. Mizuho lifted their target price on Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Stephens lifted their price target on Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a research report on Wednesday, May 1st. Robert W. Baird lifted their price target on Trane Technologies from $315.00 to $344.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Barclays lifted their target price on Trane Technologies from $354.00 to $380.00 and gave the stock an overweight rating in a report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on Trane Technologies from $247.00 to $300.00 and gave the company a neutral rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of Hold and a consensus price target of $311.21.

Trane Technologies Trading Down 0.2 %

Shares of NYSE TT opened at $343.81 on Wednesday. The company has a market cap of $77.82 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 2.64 and a beta of 1.01. Trane Technologies has a 12-month low of $184.02 and a 12-month high of $347.20. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $330.86 and its 200 day simple moving average is $296.18.

Trane Technologies (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Equities research analysts expect that Trane Technologies will post 10.48 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared 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 of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.98%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BKM Wealth Management LLC acquired a new position in Trane Technologies during the 4th quarter worth $25,000. Motco acquired a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. Sachetta LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC lifted its stake in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the 1st quarter valued at $27,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.