Trane Technologies (NYSE:TT) Price Target Increased to $400.00 by Analysts at Mizuho

Trane Technologies (NYSE:TT) had its price objective upped by Mizuho from $325.00 to $400.00 in a report released on Thursday morning, Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on TT. Stephens restated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Barclays raised their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $373.58.

Trane Technologies Stock Performance

NYSE TT opened at $400.14 on Thursday. The business’s 50-day moving average price is $367.98 and its 200 day moving average price is $338.47. Trane Technologies has a twelve month low of $184.02 and a twelve month high of $406.96. The company has a market capitalization of $90.57 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts predict that Trane Technologies will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was 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 $42,708,902.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly 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.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently made changes to their positions in the business. Trust Point Inc. grew its stake in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial increased its position in shares of Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after buying an additional 28 shares in the last quarter. PFG Private Wealth Management LLC increased its position in shares of Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after buying an additional 32 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Trane Technologies by 26.5% in the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock valued at $55,000 after buying an additional 35 shares in the last quarter. Finally, Procyon Advisors LLC increased its holdings in Trane Technologies by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 927 shares of the company’s stock worth $360,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds 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.