Trane Technologies (NYSE:TT) Given Equal Weight Rating at Stephens

Stephens reaffirmed their equal weight rating on shares of Trane Technologies (NYSE:TT) in a report released on Monday, Benzinga reports. The firm currently has a $350.00 price target on the stock.

Several other research analysts also recently commented on TT. UBS Group raised their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a buy rating in a research note on Monday, June 3rd. TD Cowen lifted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Wells Fargo & Company upped their price objective on Trane Technologies from $310.00 to $315.00 and gave the company an underweight rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their price target on Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. One 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 currently has an average rating of Hold and a consensus price target of $323.29.

Trane Technologies Trading Up 2.8 %

Shares of Trane Technologies stock traded up $8.70 on Monday, hitting $322.91. The stock had a trading volume of 1,212,011 shares, compared to its average volume of 1,138,510. The stock’s 50-day simple moving average is $331.18 and its two-hundred day simple moving average is $306.88. Trane Technologies has a one year low of $184.02 and a one year high of $351.41. The stock has a market cap of $72.87 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the company earned $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Trane Technologies will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 1.04%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated 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 approximately $6,669,545.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated 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 directly owns 61,293 shares of the company’s stock, 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Motco bought a new stake in Trane Technologies during the 4th quarter valued at $27,000. Sachetta LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $27,000. GoalVest Advisory LLC raised its holdings in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies in the 1st quarter worth approximately $27,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Trane Technologies during the 1st quarter worth $30,000. Institutional investors and hedge funds 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.