JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Trane Technologies (NYSE:TT) Stock

Trane Technologies (NYSE:TT) had its price objective increased by JPMorgan Chase & Co. from $323.00 to $334.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

TT has been the topic of a number of other reports. Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Citigroup dropped their target price on shares of Trane Technologies from $476.00 to $415.00 and set a “buy” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $421.07.

Trane Technologies Trading Up 1.8 %

TT stock opened at $399.68 on Thursday. Trane Technologies has a one year low of $298.15 and a one year high of $422.00. The company has a market capitalization of $89.14 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company’s 50 day moving average price is $344.26 and its two-hundred day moving average price is $372.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts predict that Trane Technologies will post 12.83 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 Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 6th. Trane Technologies’s payout ratio is presently 31.28%.

Insider Activity at Trane Technologies

In related news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,805 shares of company stock worth $3,945,082 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Trane Technologies in the 4th quarter worth approximately $1,117,816,000. GAMMA Investing LLC boosted its holdings in Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock worth $679,161,000 after acquiring an additional 2,010,123 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter worth $611,322,000. Northern Trust Corp grew its stake in shares of Trane Technologies by 20.1% in the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Trane Technologies during the fourth quarter valued at $147,251,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

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.