Trane Technologies (NYSE:TT – Get Rating) had its price target hoisted by UBS Group from $200.00 to $224.00 in a research report report published on Tuesday morning, The Fly reports.
A number of other research analysts also recently commented on TT. Wells Fargo & Company boosted their price target on Trane Technologies from $163.00 to $176.00 and gave the company an underweight rating in a research note on Friday, February 3rd. Stephens boosted their price target on Trane Technologies from $170.00 to $185.00 and gave the company an equal weight rating in a research note on Monday, February 6th. Bank of America cut Trane Technologies from a neutral rating to an underperforming rating and set a $160.00 target price on the stock. in a research report on Monday, December 12th. Argus lifted their target price on Trane Technologies from $185.00 to $200.00 in a research report on Wednesday, February 8th. Finally, The Goldman Sachs Group boosted their price target on Trane Technologies from $178.00 to $203.00 and gave the stock a neutral rating in a report on Monday, February 6th. Three equity research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $183.78.
Trane Technologies Stock Down 0.6 %
TT opened at $190.87 on Tuesday. Trane Technologies has a fifty-two week low of $120.64 and a fifty-two week high of $196.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.77 and a current ratio of 1.12. The company has a market capitalization of $43.72 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.39 and a beta of 1.00. The stock has a fifty day moving average of $179.80 and a 200-day moving average of $168.29.
Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.94 billion. Trane Technologies has a return on equity of 29.14% and a net margin of 10.98%. Trane Technologies’ revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 earnings per share. On average, equity analysts expect that Trane Technologies will post 8.29 EPS for the current year.
Trane Technologies Increases Dividends
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Trane Technologies’ previous quarterly dividend of $0.67. The ex-dividend date is Thursday, March 2nd. Trane Technologies’ dividend payout ratio is presently 40.05%.
Insider Transactions at Trane Technologies
In other news, EVP Raymond D. Pittard sold 23,003 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total transaction of $3,920,171.26. Following the transaction, the executive vice president now directly owns 87,718 shares of the company’s stock, valued at $14,948,901.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 23,003 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $170.42, for a total transaction of $3,920,171.26. Following the completion of the sale, the executive vice president now owns 87,718 shares in the company, valued at $14,948,901.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul A. Camuti sold 7,950 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $190.78, for a total value of $1,516,701.00. Following the sale, the executive vice president now owns 89,021 shares of the company’s stock, valued at approximately $16,983,426.38. The disclosure for this sale can be found here. Insiders have sold 38,970 shares of company stock valued at $6,927,921 over the last ninety days. 0.74% of the stock is owned by company insiders.
Institutional Investors Weigh In On Trane Technologies
Several institutional investors have recently bought and sold shares of the stock. OLD Mission Capital LLC bought a new position in Trane Technologies in the 4th quarter valued at $50,000. Voya Investment Management LLC grew its stake in Trane Technologies by 2.8% in the 4th quarter. Voya Investment Management LLC now owns 144,558 shares of the company’s stock valued at $24,299,000 after purchasing an additional 3,944 shares during the period. Callan Family Office LLC bought a new position in Trane Technologies in the 4th quarter valued at $219,000. Macquarie Group Ltd. grew its stake in Trane Technologies by 8.0% in the 4th quarter. Macquarie Group Ltd. now owns 14,181 shares of the company’s stock valued at $2,384,000 after purchasing an additional 1,051 shares during the period. Finally, Ruedi Wealth Management Inc. bought a new position in shares of Trane Technologies during the 4th quarter worth $37,000. Institutional investors own 81.47% of the company’s stock.
About Trane Technologies
Trane Technologies Plc is engaged in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment includes commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.
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