Trane Technologies (NYSE:TT) Price Target Raised to $478.00

by · The Markets Daily

Trane Technologies (NYSE:TT – Free Report) had its target price raised by Citigroup from $457.00 to $478.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group boosted their price objective 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. Barclays upped their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $409.93.

Check Out Our Latest Analysis on TT

Trane Technologies Stock Up 0.7 %

Shares of NYSE:TT opened at $400.12 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $90.04 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.50 and a beta of 1.03. Trane Technologies has a 52-week low of $233.76 and a 52-week high of $422.00. The stock’s fifty day simple moving average is $401.33 and its 200-day simple moving average is $363.35.

Trane Technologies (NYSE:TT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business earned $2.79 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Trane Technologies’s dividend payout ratio is presently 31.17%.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Several institutional investors have recently modified their holdings of TT. MidAtlantic Capital Management Inc. acquired a new stake in Trane Technologies during the 3rd quarter worth about $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the 3rd quarter worth about $36,000. Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Quarry LP bought a new stake in Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. bought a new position in Trane Technologies in the third quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

(Get Free Report)

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.

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