Trane Technologies (NYSE:TT) Price Target Increased to $310.00 by Analysts at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price target hoisted by Wells Fargo & Company from $295.00 to $310.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

TT has been the topic of a number of other reports. Mizuho raised their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Stephens raised their price objective on Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a research note on Wednesday, May 1st. TD Cowen boosted their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Robert W. Baird increased their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a neutral rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $310.86.

Trane Technologies Trading Up 2.2 %

Trane Technologies stock opened at $341.05 on Wednesday. The business has a 50-day simple moving average of $329.82 and a two-hundred day simple moving average of $295.14. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $345.46. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The company has a market cap of $77.20 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.58 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company 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 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts predict that Trane Technologies will post 10.48 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.99%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GoalVest Advisory LLC lifted its stake in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Trane Technologies in the first quarter worth $27,000. BOK Financial Private Wealth Inc. purchased a new position in Trane Technologies during the first quarter worth $30,000. BKM Wealth Management LLC bought a new position in Trane Technologies during the fourth quarter valued at $25,000. Finally, Sachetta LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $27,000. 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.