Trane Technologies (NYSE:TT) Given New $407.00 Price Target at The Goldman Sachs Group

Trane Technologies (NYSE:TT) had its target price hoisted by The Goldman Sachs Group from $364.00 to $407.00 in a report issued on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on TT. Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They issued an overweight rating and a $425.00 target price on the stock. Barclays raised their price target on Trane Technologies from $394.00 to $425.00 and gave the stock an overweight rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a sector perform rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their target price on Trane Technologies from $320.00 to $360.00 and gave the company an underweight rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $367.33.

Trane Technologies Stock Up 1.6 %

NYSE TT opened at $399.86 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $400.29. The business’s fifty day simple moving average is $361.78 and its 200-day simple moving average is $335.96. The firm has a market cap of $90.24 billion, a PE ratio of 39.55, a P/E/G ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 EPS. As a group, equities analysts anticipate that Trane Technologies will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.23%.

Insider Activity

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TT. GoalVest Advisory LLC boosted its position in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies in the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies in the 1st quarter valued at $30,000. Fortitude Family Office LLC boosted its stake in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies during the 2nd quarter worth $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.