Mizuho Raises Trane Technologies (NYSE:TT) Price Target to $400.00

Trane Technologies (NYSE:TT) had its price objective boosted by Mizuho from $325.00 to $400.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

TT has been the subject of a number of other reports. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Royal Bank of Canada lifted their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird upped their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average price target of $373.58.

Trane Technologies Stock Up 0.6 %

TT opened at $402.54 on Thursday. The company has a market capitalization of $91.12 billion, a P/E ratio of 43.01, a P/E/G ratio of 2.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The firm’s fifty day moving average price is $369.37 and its two-hundred day moving average price is $339.77. Trane Technologies has a fifty-two week low of $184.02 and a fifty-two week high of $406.96.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the business earned $2.68 EPS. The firm’s revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Trane Technologies will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GoalVest Advisory LLC grew its stake in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in Trane Technologies during the first quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Trane Technologies during the 1st quarter worth about $30,000. Fortitude Family Office LLC increased its stake in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds 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.