Trane Technologies (NYSE:TT) Price Target Raised to $315.00 at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective lifted by Wells Fargo & Company from $310.00 to $315.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other research analysts have also issued reports about the company. Mizuho increased their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. Stephens lifted 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, May 1st. The Goldman Sachs Group upped 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, May 1st. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the company a neutral rating in a research note on Thursday. Finally, Citigroup increased their price target on Trane Technologies from $355.00 to $366.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $321.14.

Trane Technologies Stock Performance

TT traded down $13.39 on Thursday, hitting $319.94. 321,689 shares of the stock traded hands, compared to its average volume of 1,119,606. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $351.41. The firm has a market capitalization of $72.42 billion, a PE ratio of 35.61, a P/E/G ratio of 2.51 and a beta of 1.01. The business has a fifty day moving average price of $332.05 and a two-hundred day moving average price of $305.05. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 34.08%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 earnings per share. On average, research analysts predict that Trane Technologies will post 10.8 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’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 completion of the transaction, the chief financial officer now directly 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 the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’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 transaction of $2,887,844.40. Following 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. 0.38% of the stock is owned by insiders.

Institutional Trading of Trane Technologies

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after acquiring an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 0.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after purchasing an additional 80,536 shares in the last quarter. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $655,804,000. Capital World Investors raised its stake in shares of Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its stake in shares of Trane Technologies by 11.4% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,018,431 shares of the company’s stock worth $492,295,000 after purchasing an additional 205,882 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.