Trane Technologies (NYSE:TT) Price Target Raised to $395.00 at Royal Bank of Canada

Trane Technologies (NYSE:TT) had its price objective raised by Royal Bank of Canada from $390.00 to $395.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities analysts have also weighed in on TT. UBS Group initiated coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 target price on the stock. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays lifted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $413.14.

Trane Technologies Trading Up 1.9 %

Shares of TT opened at $381.11 on Friday. Trane Technologies has a fifty-two week low of $236.33 and a fifty-two week high of $422.00. The business has a 50-day moving average of $396.71 and a 200 day moving average of $369.46. The firm has a market cap of $85.76 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Trane Technologies will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th were issued a $0.84 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.88%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock valued at $639,514,000 after purchasing an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after buying an additional 671,691 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Trane Technologies by 7,363.1% during the second quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares in the last quarter. FMR LLC raised its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Trane Technologies by 162.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock valued at $147,263,000 after acquiring an additional 277,274 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

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.