Trane Technologies plc (NYSE:TT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Trane Technologies plc (NYSE:TT) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $309.79.

A number of brokerages have recently weighed in on TT. Mizuho increased their target price on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stephens increased their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their target price on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen increased their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st.

Trane Technologies Price Performance

NYSE:TT opened at $335.31 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average price is $317.81 and its two-hundred day moving average price is $283.88. The firm has a market capitalization of $75.90 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 2.62 and a beta of 1.01. Trane Technologies has a 12-month low of $182.96 and a 12-month high of $338.09.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, analysts anticipate that Trane Technologies will post 10.46 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $3,086,000. Wellington Management Group LLP raised its position in Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the last quarter. Capital World Investors raised its position in Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after purchasing an additional 11,930 shares during the last quarter. Stifel Financial Corp raised its position in Trane Technologies by 26.8% during the 4th quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock worth $24,295,000 after purchasing an additional 21,040 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Trane Technologies by 11.9% during the 4th quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock worth $78,778,000 after purchasing an additional 34,243 shares during the last quarter. Institutional investors and hedge funds 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.