Trane Technologies (NYSE:TT – Free Report) had its target price increased by KeyCorp from $500.00 to $525.00 in a research note published on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.
Other equities analysts have also recently issued reports about the company. Barclays raised their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Morgan Stanley cut their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and an average target price of $492.94.
Trane Technologies Stock Performance
Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the business posted $2.61 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that Trane Technologies will post 14.76 EPS for the current year.
Trane Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.
Insiders Place Their Bets
In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,997 shares of company stock valued at $25,107,014 over the last three months. 0.14% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Financial Consulate Inc. acquired a new position in Trane Technologies during the third quarter worth about $25,000. Tucker Asset Management LLC acquired a new position in Trane Technologies during the fourth quarter worth about $25,000. United Community Bank grew its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC acquired a new position in Trane Technologies during the third quarter worth about $32,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Trane Technologies during the fourth quarter worth about $32,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Trane Technologies Company Profile
Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.
In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.
Further Reading
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