Trane Technologies (NYSE:TT) Price Target Increased to $360.00 by Analysts at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its target price upped by Wells Fargo & Company from $320.00 to $360.00 in a report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

TT has been the subject of several other research reports. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an overweight rating and a $425.00 price target for the company. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a sector perform rating in a report on Thursday, August 1st. Stephens reiterated an equal weight rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Finally, Barclays lifted their target price on Trane Technologies from $394.00 to $425.00 and gave the stock an overweight rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of Hold and a consensus target price of $367.33.

Trane Technologies Stock Down 1.6 %

Shares of TT opened at $393.46 on Monday. The business’s 50 day moving average is $360.15 and its 200 day moving average is $335.01. The company has a market capitalization of $88.79 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies has a 12-month low of $184.02 and a 12-month high of $400.23. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $2.68 EPS. Research analysts expect that Trane Technologies will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 33.23%.

Insider Transactions at Trane Technologies

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TT. GoalVest Advisory LLC grew its holdings in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies during the first quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies during the first quarter worth about $30,000. Fortitude Family Office LLC grew its holdings in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the period. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies during the second quarter worth about $39,000. 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.