Trane Technologies (NYSE:TT) Price Target Raised to $400.00

Trane Technologies (NYSE:TT) had its price target hoisted by Mizuho from $325.00 to $400.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also commented on TT. Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $373.58.

Trane Technologies Trading Up 0.6 %

NYSE:TT opened at $402.54 on Thursday. The stock has a fifty day simple moving average of $369.37 and a 200 day simple moving average of $339.77. The firm has a market capitalization of $91.12 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies has a 1-year low of $184.02 and a 1-year high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company posted $2.68 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies will post 10.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. GoalVest Advisory LLC grew 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. bought a new stake in Trane Technologies in the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies in the 1st quarter worth $30,000. Fortitude Family Office LLC grew its position in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Trane Technologies during the 2nd quarter worth about $39,000. 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.