Trane Technologies (NYSE:TT) Given New $295.00 Price Target at Wells Fargo & Company

Trane Technologies (NYSE:TT) had its price objective boosted by Wells Fargo & Company from $281.00 to $295.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other research analysts have also recently weighed in on TT. Barclays boosted their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Stephens increased their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Citigroup increased their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Finally, TD Cowen lifted their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a buy rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Trane Technologies has a consensus rating of Hold and an average target price of $300.54.

Trane Technologies Stock Performance

NYSE TT opened at $319.29 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. The company has a fifty day moving average price of $295.83 and a 200-day moving average price of $258.71. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $327.09. The firm has a market cap of $72.27 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.54 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts predict that Trane Technologies will post 10.48 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling at Trane Technologies

In related news, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares in the company, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TT. Wellington Management Group LLP grew its position in Trane Technologies by 36.4% in the third 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 in the last quarter. Xponance Inc. increased its holdings in shares of Trane Technologies by 18.6% in the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after buying an additional 6,869 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Trane Technologies by 2.1% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after acquiring an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Trane Technologies by 60.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after acquiring an additional 42,409 shares during the period. Finally, Wealth Effects LLC bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $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.