Trane Technologies (NYSE:TT) Given New $395.00 Price Target at Royal Bank of Canada

Trane Technologies (NYSE:TT) had its target price raised by Royal Bank of Canada from $390.00 to $395.00 in a report issued on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research firms also recently issued reports on TT. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $413.14.

Trane Technologies Stock Up 1.9 %

Shares of Trane Technologies stock opened at $381.11 on Friday. Trane Technologies has a twelve month low of $236.33 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $396.71 and its 200 day moving average is $369.46. The company has a market cap of $85.76 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $2.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Trane Technologies will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were issued a $0.84 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Trane Technologies’s dividend payout ratio is presently 31.17%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Trust Point Inc. grew its stake in shares of Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after buying an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock worth $579,000 after acquiring an additional 27 shares in the last quarter. First Pacific Financial increased its stake in Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock worth $1,039,000 after acquiring an additional 28 shares during the last quarter. Wescott Financial Advisory Group LLC raised its position in Trane Technologies by 1.7% during the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after purchasing an additional 28 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares during 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.