Citigroup Raises Trane Technologies (NYSE:TT) Price Target to $366.00

Trane Technologies (NYSE:TT) had its target price boosted by Citigroup from $355.00 to $366.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on TT. Robert W. Baird raised their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a research report on Friday, February 2nd. The Goldman Sachs Group lifted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a neutral rating in a research report on Wednesday. Mizuho boosted their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Barclays boosted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of Hold and an average price target of $300.54.

Trane Technologies Stock Up 0.8 %

Shares of Trane Technologies stock opened at $319.34 on Wednesday. Trane Technologies has a 1-year low of $162.04 and a 1-year high of $327.09. The business has a 50-day moving average of $295.08 and a 200-day moving average of $257.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. The company has a market capitalization of $72.28 billion, a PE ratio of 34.12, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the business earned $1.41 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies will post 10.47 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is currently 35.90%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,237 shares of company stock valued at $8,024,534. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TT. GoalVest Advisory LLC raised its position in 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 purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Trane Technologies in the first quarter worth $27,000. BOK Financial Private Wealth Inc. bought a new stake in Trane Technologies during the 1st quarter worth about $30,000. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $25,000. Finally, Sachetta LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth $27,000. 82.97% of the stock is 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.