Trane Technologies plc (NYSE:TT) Given Consensus Rating of “Hold” by Analysts

Shares of Trane Technologies plc (NYSE:TT) have earned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $389.77.

Several brokerages have recently weighed in on TT. Morgan Stanley began coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Robert W. Baird reduced their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $410.13 on Friday. The firm has a market capitalization of $92.29 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The business’s fifty day simple moving average is $385.43 and its 200 day simple moving average is $351.65. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies has a 12 month low of $221.22 and a 12 month high of $421.78.

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

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Hedge Funds Weigh In On Trane Technologies

Institutional investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies during the 3rd quarter valued at about $36,000. Pittenger & Anderson Inc. bought a new position in shares of Trane Technologies during the 3rd quarter valued at about $39,000. Fortitude Family Office LLC increased its position in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Trane Technologies during the 2nd quarter valued at about $39,000. 82.97% of the stock is currently owned by 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.