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

Trane Technologies (NYSE:TT) had its target price lifted by Citigroup from $355.00 to $366.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on TT. The Goldman Sachs Group lifted their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a report on Wednesday. Royal Bank of Canada lifted their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a research note on Friday, February 2nd. Stephens raised their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a report on Wednesday. Mizuho upped 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. Finally, Robert W. Baird raised their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $300.54.

Trane Technologies Stock Performance

NYSE:TT opened at $319.29 on Wednesday. Trane Technologies has a 1-year low of $162.04 and a 1-year 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 business has a 50 day moving average of $295.83 and a 200 day moving average of $257.93. The company has a market capitalization of $72.27 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.52 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 analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the business posted $1.41 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies will post 10.47 earnings per share 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. Stockholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity at Trane Technologies

In other news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold 28,237 shares of company stock worth $8,024,534 over the last ninety days. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds have recently bought and sold shares of TT. U.S. Capital Wealth Advisors LLC bought a new position in shares of Trane Technologies in the third quarter worth approximately $208,000. Commonwealth Equity Services LLC boosted its stake in Trane Technologies by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company’s stock valued at $8,442,000 after purchasing an additional 793 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Trane Technologies by 17.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,397 shares of the company’s stock valued at $2,110,000 after purchasing an additional 1,518 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of Trane Technologies in the 3rd quarter worth $215,000. Finally, Birchcreek Wealth Management LLC bought a new position in shares of Trane Technologies during the third quarter valued at $203,000. 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.