Stephens Upgrades Trane Technologies (NYSE:TT) to “Overweight”

Stephens upgraded shares of Trane Technologies (NYSE:TT) from an equal weight rating to an overweight rating in a report published on Thursday morning, MarketBeat reports. The firm currently has $475.00 price objective on the stock.

Several other equities analysts have also commented on TT. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on shares of Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Citigroup dropped their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Barclays decreased their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.07.

Trane Technologies Stock Up 1.8 %

Shares of NYSE:TT opened at $399.68 on Thursday. The business has a 50-day moving average price of $344.26 and a 200 day moving average price of $372.04. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $89.14 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. Sell-side analysts expect that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,805 shares of company stock worth $3,945,082. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Institutional investors have recently added to or reduced their stakes in the business. WFA Asset Management Corp grew its stake in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the 4th quarter valued at $26,000. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies in the 4th quarter valued at about $28,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Trane Technologies during the first quarter worth about $31,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.