Trane Technologies (NYSE:TT) Stock Price Expected to Rise, Barclays Analyst Says

Trane Technologies (NYSE:TT) had its price target upped by Barclays from $425.00 to $440.00 in a report issued on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective for the company. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $380.15.

Trane Technologies Stock Up 1.5 %

TT stock traded up $5.44 during trading on Thursday, hitting $375.60. 241,171 shares of the company’s stock were exchanged, compared to its average volume of 1,100,412. The company has a current ratio of 1.22, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. Trane Technologies has a 52-week low of $211.31 and a 52-week high of $406.96. The business has a 50-day moving average price of $377.36 and a two-hundred day moving average price of $344.79. The stock has a market capitalization of $84.76 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.59 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $2.79 EPS. As a group, equities research analysts expect that Trane Technologies will post 10.89 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Insider Activity at Trane Technologies

In other 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated 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 sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norden Group LLC acquired a new stake in shares of Trane Technologies in the 1st quarter worth approximately $646,000. J.W. Cole Advisors Inc. raised its position in Trane Technologies by 10.6% in the first quarter. J.W. Cole Advisors Inc. now owns 1,680 shares of the company’s stock worth $505,000 after acquiring an additional 161 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Trane Technologies by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 8,341 shares of the company’s stock valued at $2,504,000 after acquiring an additional 334 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Trane Technologies in the 1st quarter worth approximately $215,000. Finally, Mission Wealth Management LP grew its position in Trane Technologies by 14.4% in the first quarter. Mission Wealth Management LP now owns 2,125 shares of the company’s stock worth $638,000 after buying an additional 268 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.