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

Trane Technologies (NYSE:TT) had its price objective raised by Royal Bank Of Canada from $496.00 to $502.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts also recently issued reports about the company. Citigroup cut their target price on Trane Technologies from $570.00 to $566.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price target on Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Wells Fargo & Company started coverage on Trane Technologies in a report on Friday, September 25th. They set an “overweight” rating and a $536.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Trane Technologies in a research report on Friday, October 9th. They issued an “overweight” rating and a $550.00 price objective for the company. Finally, Evercore increased their price objective on Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.42.

Trane Technologies Trading Up 0.3%

Shares of Trane Technologies stock opened at $458.57 on Wednesday. The firm has a market cap of $100.89 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. Trane Technologies has a 52-week low of $348.06 and a 52-week high of $505.87. The company’s 50-day simple moving average is $454.48 and its 200-day simple moving average is $462.99. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the firm earned $3.88 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, equities research analysts anticipate that Trane Technologies will post 15.31 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio is presently 31.82%.

Insiders Place Their Bets

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the completion of the transaction, the chief executive officer directly owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently modified their holdings of the company. Kintegral Advisory LLC raised its stake in shares of Trane Technologies by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 16,589 shares of the company’s stock worth $7,498,000 after buying an additional 93 shares during the last quarter. RKL Wealth Management LLC grew its stake in Trane Technologies by 1.0% in the 3rd quarter. RKL Wealth Management LLC now owns 8,145 shares of the company’s stock valued at $3,682,000 after acquiring an additional 77 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Trane Technologies by 3.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 204,807 shares of the company’s stock valued at $92,569,000 after acquiring an additional 7,508 shares during the last quarter. Wealth Intelligence LLC increased its holdings in Trane Technologies by 3.8% during the 3rd quarter. Wealth Intelligence LLC now owns 2,209 shares of the company’s stock valued at $998,000 after acquiring an additional 81 shares in the last quarter. Finally, James T. Borello RIA increased its holdings in Trane Technologies by 41.7% during the 3rd quarter. James T. Borello RIA now owns 102 shares of the company’s stock valued at $46,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc is a global climate solutions company that develops and provides systems, equipment, services and controls for heating, ventilation, air conditioning and refrigeration. Its solutions are used in commercial buildings, industrial facilities, residential properties, data centers, transportation and other applications where temperature control and energy efficiency are important.

The company operates through two primary areas: Climate Solutions, which includes building heating and cooling systems, building controls, services and energy-management solutions; and Climate Solutions Transport, which provides refrigeration systems for trucks, trailers, shipping containers and other transportation applications.