Trane Technologies (NYSE:TT) Shares Gap Up to $300.86

Trane Technologies plc (NYSE:TT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $300.86, but opened at $314.98. Trane Technologies shares last traded at $323.76, with a volume of 552,064 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup raised their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Barclays lifted 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. Royal Bank of Canada lifted 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. The Goldman Sachs Group lifted 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. Finally, Stephens lifted 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $251.83.

Trane Technologies Stock Performance

The stock has a 50 day moving average of $292.79 and a 200 day moving average of $255.54. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $72.06 billion, a price-to-earnings ratio of 36.97, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.04. The company had revenue of $4.42 billion for 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%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. As a group, analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies's dividend payout ratio is currently 38.23%.

Insider Buying and Selling

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares of the company's stock, valued at $11,591,469.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Keith A. Sultana sold 1,983 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares of the company's stock, valued at $11,591,469.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 over the last ninety days. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Institutional investors have recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in Trane Technologies during the fourth quarter worth $25,000. Motco purchased a new stake in shares of Trane Technologies in the 4th quarter valued at about $27,000. Sachetta LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at about $27,000. GoalVest Advisory LLC raised its holdings 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 acquiring an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies during the 1st quarter valued at about $27,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.