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

Trane Technologies (NYSE:TT) had its price target increased by Barclays from $385.00 to $394.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the company. UBS Group increased their price target on Trane Technologies from $330.00 to $375.00 and gave the company a buy rating in a report on Monday, June 3rd. JPMorgan Chase & Co. increased their target price on Trane Technologies from $247.00 to $300.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. The Goldman Sachs Group increased their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. TD Cowen increased their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada increased their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a sector perform rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $321.14.

Trane Technologies Price Performance

TT stock traded down $6.14 during midday trading on Thursday, hitting $312.31. The company’s stock had a trading volume of 573,506 shares, compared to its average volume of 1,127,675. Trane Technologies has a 12 month low of $184.02 and a 12 month high of $351.41. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a 50 day moving average of $331.66 and a two-hundred day moving average of $306.41.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is currently 35.90%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated 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 owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Motco acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $27,000. Sachetta LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC grew its holdings in Trane Technologies by 157.1% in the first 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. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies in the first quarter valued at approximately $27,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies in the first quarter valued at approximately $30,000. 82.97% of the stock is currently owned by hedge funds and other 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.