Trane Technologies (NYSE:TT) Price Target Raised to $502.00 at Citigroup

Trane Technologies (NYSE:TT - Free Report) had its target price raised by Citigroup from $445.00 to $502.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

TT has been the topic of a number of other reports. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Finally, Barclays lifted their price objective on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $437.80.

Trane Technologies Stock Up 0.1%

NYSE:TT traded up $0.42 during mid-day trading on Monday, hitting $436.78. The stock had a trading volume of 587,899 shares, compared to its average volume of 1,330,997. The company has a market capitalization of $97.41 billion, a PE ratio of 36.34, a PEG ratio of 2.84 and a beta of 1.15. Trane Technologies has a twelve month low of $298.15 and a twelve month high of $441.19. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $427.90 and a two-hundred day simple moving average of $382.41.

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. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 earnings per share. On average, equities research analysts anticipate that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Transactions at Trane Technologies

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

Institutional Trading of Trane Technologies

A number of hedge funds have recently made changes to their positions in the company. Diversified Enterprises LLC grew its position in shares of Trane Technologies by 5.2% during the second quarter. Diversified Enterprises LLC now owns 1,719 shares of the company's stock worth $752,000 after buying an additional 85 shares in the last quarter. Independent Wealth Network Inc. acquired a new stake in shares of Trane Technologies during the second quarter worth approximately $234,000. ORG Partners LLC grew its position in shares of Trane Technologies by 173.8% during the second quarter. ORG Partners LLC now owns 178 shares of the company's stock worth $77,000 after buying an additional 113 shares in the last quarter. Rainier Family Wealth Inc. grew its position in shares of Trane Technologies by 1.6% during the second quarter. Rainier Family Wealth Inc. now owns 3,117 shares of the company's stock worth $1,363,000 after buying an additional 49 shares in the last quarter. Finally, Old Port Advisors grew its position in shares of Trane Technologies by 3.7% during the second quarter. Old Port Advisors now owns 754 shares of the company's stock worth $330,000 after buying an additional 27 shares in the last quarter. Hedge funds and other 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.