Barclays Issues Positive Forecast for Trane Technologies (NYSE:TT) Stock Price

Trane Technologies (NYSE:TT) had its target price lifted by Barclays from $425.00 to $440.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

TT has been the subject of several other reports. Royal Bank of Canada boosted their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Morgan Stanley started coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Price Performance

Shares of TT stock traded up $5.44 during trading hours on Thursday, hitting $375.60. The stock had a trading volume of 241,171 shares, compared to its average volume of 1,100,412. The stock has a market capitalization of $84.76 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.59 and a beta of 1.01. The stock’s 50-day moving average price is $377.36 and its two-hundred day moving average price is $344.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84. Trane Technologies has a one year low of $211.31 and a one year high of $406.96.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 EPS. Equities analysts forecast that Trane Technologies will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Insider Activity at Trane Technologies

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

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently modified their holdings of TT. ABLE Financial Group LLC acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $210,000. Capital Performance Advisors LLP acquired a new position in shares of Trane Technologies in the third quarter worth $66,000. Philip James Wealth Mangement LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at $269,000. Palmer Knight Co grew its stake in Trane Technologies by 0.5% during the 3rd quarter. Palmer Knight Co now owns 14,745 shares of the company’s stock worth $5,732,000 after purchasing an additional 73 shares in the last quarter. Finally, Summit Global Investments acquired a new stake in Trane Technologies in the 3rd quarter valued at about $1,373,000. 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.