Trane Technologies (NYSE:TT) Given New $344.00 Price Target at Robert W. Baird

Trane Technologies (NYSE:TT) had its price target increased by Robert W. Baird from $315.00 to $344.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on TT. Stephens lifted their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an equal weight rating in a research note on Tuesday, February 6th. Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a buy rating in a research report on Monday, April 8th. The Goldman Sachs Group increased their target price on Trane Technologies from $253.00 to $287.00 and gave the company a neutral rating in a report on Monday, February 5th. Barclays raised 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. Finally, Royal Bank of Canada upped their price target on Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $288.38.

Trane Technologies Stock Down 0.7 %

TT stock opened at $315.08 on Wednesday. The firm has a market cap of $71.39 billion, a PE ratio of 33.66, a P/E/G ratio of 2.61 and a beta of 1.01. Trane Technologies has a 12 month low of $162.04 and a 12 month high of $327.09. 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 firm has a 50 day simple moving average of $294.39 and a 200 day simple moving average of $256.74.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. Equities research analysts forecast that Trane Technologies will post 10.49 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 Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.07%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated 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 in the company, valued at $32,589,600.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,237 shares of company stock valued at $8,024,534. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Xponance Inc. raised its stake in shares of Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after buying an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Trane Technologies by 2.1% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after acquiring an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after acquiring an additional 42,409 shares in the last quarter. Finally, Wealth Effects LLC bought a new stake in Trane Technologies in the fourth quarter valued at about $239,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.