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

Trane Technologies plc (NYSE:TT) has been assigned an average rating of “Hold” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $409.93.

A number of equities analysts recently issued reports on TT shares. Citigroup boosted their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. UBS Group started coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective on the stock. Barclays lifted their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group upped their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies during the 3rd quarter worth about $27,000. DT Investment Partners LLC acquired a new position in shares of Trane Technologies during the third quarter worth approximately $36,000. Quarry LP bought a new stake in shares of Trane Technologies during the second quarter valued at approximately $39,000. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new position in Trane Technologies in the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.4 %

Trane Technologies stock opened at $369.35 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies has a fifty-two week low of $233.76 and a fifty-two week high of $422.00. The firm has a fifty day moving average price of $397.09 and a two-hundred day moving average price of $369.43. The firm has a market cap of $83.11 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.38 and a beta of 1.03.

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

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were paid a $0.84 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. Trane Technologies’s dividend payout ratio is presently 31.17%.

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.