Robert W. Baird Boosts Trane Technologies (NYSE:TT) Price Target to $344.00

Trane Technologies (NYSE:TT) had its price target raised by Robert W. Baird from $315.00 to $344.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also issued reports on TT. The Goldman Sachs Group boosted their target price on Trane Technologies from $253.00 to $287.00 and gave the company a neutral rating in a research note on Monday, February 5th. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a report on Friday, February 2nd. Stephens increased their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Citigroup boosted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a buy rating in a research report on Monday, April 8th. Finally, Barclays raised their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trane Technologies has a consensus rating of Hold and a consensus target price of $300.54.

Trane Technologies Stock Performance

NYSE TT opened at $319.34 on Wednesday. The company has a market capitalization of $72.28 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $327.09. The company has a 50-day simple moving average of $295.08 and a 200 day simple moving average of $257.16.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. On average, research analysts predict that Trane Technologies will post 10.47 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. Trane Technologies’s payout ratio is currently 35.90%.

Insider Buying and Selling

In related news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction 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 $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul A. Camuti sold 5,643 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the completion of the transaction, the executive vice president now directly owns 88,770 shares in the company, valued at approximately $25,592,391. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,237 shares of company stock worth $8,024,534. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the last quarter. Xponance Inc. raised its position in Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after purchasing an additional 6,869 shares during the period. CHICAGO TRUST Co NA lifted its stake in Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after purchasing an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after buying an additional 42,409 shares during the period. Finally, Wealth Effects LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $239,000. 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.