Trane Technologies (NYSE:TT) Price Target Raised to $500.00

Trane Technologies (NYSE:TT - Free Report) had its price target upped by UBS Group from $470.00 to $500.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Melius Research reissued a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a report on Thursday, May 1st. Wells Fargo & Company increased their price target on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird increased their target price on Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Performance

TT stock traded down $0.55 during trading on Thursday, hitting $423.71. 1,033,578 shares of the company traded hands, compared to its average volume of 1,354,784. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies has a 1 year low of $298.15 and a 1 year high of $433.60. The stock's 50-day simple moving average is $366.28 and its 200 day simple moving average is $375.01. The company has a market cap of $94.50 billion, a PE ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The company's quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is currently 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock worth $1,208,044,000 after buying an additional 241,910 shares during the last quarter. Finally, Norges Bank acquired a new stake in Trane Technologies in the 4th quarter worth about $1,117,816,000. 82.97% of the stock is currently 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.