Trane Technologies (NYSE:TT) Given New $355.00 Price Target at Citigroup

Trane Technologies (NYSE:TT - Free Report) had its price objective boosted by Citigroup from $309.00 to $355.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on TT. Royal Bank of Canada raised their target price on Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their target price on Trane Technologies from $200.00 to $246.00 and gave the company an underweight rating in a research report on Tuesday, December 19th. Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Stephens raised their target price on Trane Technologies from $235.00 to $280.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $253.00 to $287.00 and gave the company a neutral rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies currently has an average rating of Hold and an average price target of $246.54.

Trane Technologies Stock Down 0.3 %

NYSE TT traded down $0.83 on Monday, reaching $303.84. The company had a trading volume of 673,406 shares, compared to its average volume of 1,019,086. The stock has a market capitalization of $68.99 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.57 and a beta of 1.05. The company's fifty day moving average is $284.94 and its 200 day moving average is $245.64. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $306.98. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Sell-side analysts anticipate that Trane Technologies will post 10.19 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.11%. Trane Technologies's dividend payout ratio is currently 38.23%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company's stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 in the last quarter. 0.39% of the stock is owned by company insiders.

Institutional Trading of Trane Technologies

Large investors have recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $25,000. Motco purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $27,000. Sachetta LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $27,000. Live Oak Investment Partners purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $30,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company's stock valued at $31,000 after buying an additional 88 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

About Trane Technologies

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.