Mizuho Raises Trane Technologies (NYSE:TT) Price Target to $325.00

Trane Technologies (NYSE:TT) had its price target raised by Mizuho from $280.00 to $325.00 in a research report sent to investors on Wednesday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Robert W. Baird raised their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a neutral rating in a research note on Wednesday. Stephens upped their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an equal weight rating in a report on Wednesday. Barclays raised their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a report on Friday, February 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a neutral rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of Hold and an average price target of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of TT stock opened at $319.34 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The stock has a market cap of $72.28 billion, a P/E ratio of 34.12, a P/E/G ratio of 2.50 and a beta of 1.01. The business has a fifty day simple moving average of $295.08 and a 200-day simple moving average of $257.16. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $327.09.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 earnings per share. On average, analysts forecast that Trane Technologies will post 10.47 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 Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 35.90%.

Insider Activity at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock worth $8,024,534 in the last ninety days. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Hedge funds have recently made changes to their positions in the company. Center for Financial Planning Inc. lifted its position in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after purchasing an additional 34 shares in the last quarter. Keel Point LLC lifted its position in shares of Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after buying an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Trane Technologies by 2.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after buying an additional 42 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in Trane Technologies by 1.5% during the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after acquiring an additional 42 shares during the period. Hedge funds and other 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.