JPMorgan Chase & Co. Cuts Trane Technologies (NYSE:TT) Price Target to $323.00

Trane Technologies (NYSE:TT - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $396.00 to $323.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on TT. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Melius Research reissued a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Finally, Barclays decreased their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $409.13.

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Trane Technologies Stock Up 2.3 %

Shares of Trane Technologies stock traded up $7.84 during trading on Tuesday, reaching $346.17. The company's stock had a trading volume of 1,531,556 shares, compared to its average volume of 1,287,070. Trane Technologies has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a 50-day simple moving average of $347.12 and a two-hundred day simple moving average of $376.46. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $77.64 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities analysts forecast that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 33.42%.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company's stock.

Institutional Trading of Trane Technologies

Large investors have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC acquired a new stake in Trane Technologies during the third quarter worth about $1,438,000. EP Wealth Advisors LLC grew its stake in shares of Trane Technologies by 37.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 2,054 shares of the company's stock valued at $799,000 after buying an additional 561 shares during the period. MML Investors Services LLC increased its holdings in shares of Trane Technologies by 12.2% during the 3rd quarter. MML Investors Services LLC now owns 20,767 shares of the company's stock worth $8,073,000 after buying an additional 2,257 shares during the last quarter. Groupama Asset Managment purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $842,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Trane Technologies in the third quarter worth approximately $40,519,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.