Trane Technologies (NYSE:TT) Price Target Raised to $445.00 at Citigroup

Trane Technologies (NYSE:TT) had its target price increased by Citigroup from $415.00 to $445.00 in a report released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts have also commented on TT. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $323.00 to $334.00 and gave the company a “neutral” rating in a research note on Thursday. Melius Research reissued a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $415.00 in a research note on Friday, April 25th. 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 report on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $421.07.

Trane Technologies Stock Up 1.8 %

TT stock opened at $399.68 on Thursday. The company has a market capitalization of $89.14 billion, a P/E ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.14. The firm has a 50 day simple moving average of $344.26 and a 200-day simple moving average of $372.04. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies has a twelve month low of $298.15 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies will post 12.83 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 Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.94%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock valued at $3,945,082 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. WFA Asset Management Corp increased its holdings in shares of Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the fourth quarter valued at approximately $26,000. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies in the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies in the 4th quarter worth approximately $28,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies during the 1st quarter valued at $31,000. Hedge funds and other 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.