Robert W. Baird Boosts Trane Technologies (NYSE:TT) Price Target to $360.00

Trane Technologies (NYSE:TT) had its price target lifted by Robert W. Baird from $344.00 to $360.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

TT has been the topic of several other research reports. Mizuho lifted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $380.00 to $385.00 and gave the company an overweight rating in a report on Wednesday, July 10th. TD Cowen lifted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Finally, Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a buy rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $312.36.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $335.44 on Monday. The firm has a 50 day moving average of $331.74 and a 200 day moving average of $298.59. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $75.93 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 2.64 and a beta of 1.01. Trane Technologies has a 12-month low of $184.02 and a 12-month high of $347.33.

Trane Technologies (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 earnings per share. On average, research analysts anticipate that Trane Technologies will post 10.49 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Transactions at Trane Technologies

In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TT. B. Riley Wealth Advisors Inc. increased its position in Trane Technologies by 8.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,501 shares of the company’s stock valued at $710,000 after acquiring an additional 287 shares during the last quarter. Anchor Investment Management LLC bought a new position in Trane Technologies during the fourth quarter valued at $77,000. Exchange Traded Concepts LLC increased its position in Trane Technologies by 839.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,613 shares of the company’s stock valued at $637,000 after acquiring an additional 2,335 shares during the last quarter. Wedmont Private Capital increased its position in Trane Technologies by 12.4% during the fourth quarter. Wedmont Private Capital now owns 2,391 shares of the company’s stock valued at $581,000 after acquiring an additional 263 shares during the last quarter. Finally, Thrive Wealth Management LLC bought a new position in Trane Technologies during the fourth quarter valued at $222,000. Institutional investors own 82.97% of the company’s stock.

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.