Trane Technologies (NYSE:TT) Price Target Cut to $480.00 by Analysts at JPMorgan Chase & Co.

Trane Technologies (NYSE:TT) had its target price reduced by JPMorgan Chase & Co. from $550.00 to $480.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada decreased their price objective on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating for the company in a research report on Friday, October 30th. Argus set a $500.00 target price on Trane Technologies in a report on Friday, October 30th. Sanford C. Bernstein upped their target price on Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, August 14th. BNP Paribas Exane increased their price target on shares of Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Wall Street Zen cut shares of Trane Technologies from a “buy” rating to a “hold” rating in a report on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and a consensus price target of $532.21.

Trane Technologies Price Performance

TT opened at $424.68 on Wednesday. The stock has a fifty day moving average of $444.35 and a 200-day moving average of $454.94. The firm has a market capitalization of $92.96 billion, a P/E ratio of 28.70, a PEG ratio of 1.98 and a beta of 1.19. Trane Technologies has a 12-month low of $348.06 and a 12-month high of $505.87. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter in the previous year, the company posted $3.88 earnings per share. Trane Technologies’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts forecast that Trane Technologies will post 15.29 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 29.66%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. The trade was a 33.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in Trane Technologies in the third quarter worth approximately $18,464,000. Edmond DE Rothschild Holding S.A. lifted its stake in Trane Technologies by 1.2% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 29,194 shares of the company’s stock valued at $13,195,000 after acquiring an additional 360 shares during the last quarter. Private Wealth Asset Management LLC lifted its stake in Trane Technologies by 1,052.8% in the third quarter. Private Wealth Asset Management LLC now owns 1,418 shares of the company’s stock valued at $641,000 after acquiring an additional 1,295 shares during the last quarter. Greenline Wealth Management LLC grew its position in Trane Technologies by 32.6% in the third quarter. Greenline Wealth Management LLC now owns 806 shares of the company’s stock worth $364,000 after acquiring an additional 198 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Trane Technologies by 82.2% in the third quarter. Private Advisor Group LLC now owns 16,014 shares of the company’s stock worth $7,238,000 after acquiring an additional 7,223 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

About Trane Technologies

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.