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

Trane Technologies plc (NYSE:TT) 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 trading hands.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. Citigroup lifted their price target on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. The Goldman Sachs Group lifted their price objective on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Barclays boosted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Stephens upped their price objective on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Trading Up 5.7 %

The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The firm has a market cap of $72.22 billion, a PE ratio of 36.97, a P/E/G ratio of 2.57 and a beta of 1.05. The company’s 50-day moving average is $292.79 and its 200 day moving average is $255.54.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Insider Transactions at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 in the last 90 days. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently modified their holdings of the business. Caprock Group LLC lifted its position in shares of Trane Technologies by 18.9% in the first quarter. Caprock Group LLC now owns 1,998 shares of the company’s stock worth $600,000 after purchasing an additional 318 shares in the last quarter. Perigon Wealth Management LLC grew its stake in shares of Trane Technologies by 14.4% in the first quarter. Perigon Wealth Management LLC now owns 1,439 shares of the company’s stock valued at $432,000 after acquiring an additional 181 shares in the last quarter. Claret Asset Management Corp acquired a new position in shares of Trane Technologies in the first quarter valued at about $216,000. Commonwealth Equity Services LLC grew its stake in shares of Trane Technologies by 11.2% in the first quarter. Commonwealth Equity Services LLC now owns 54,072 shares of the company’s stock valued at $16,233,000 after acquiring an additional 5,447 shares in the last quarter. Finally, Greenleaf Trust lifted its position in Trane Technologies by 2.7% during the first quarter. Greenleaf Trust now owns 5,727 shares of the company’s stock worth $1,719,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.