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

Trane Technologies plc (NYSE:TT) has received a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $413.69.

Several equities analysts have commented on TT shares. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays dropped their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its position in shares of Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares in the last quarter. Synovus Financial Corp raised its position in Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC purchased a new position in Trane Technologies during the fourth quarter valued at $468,000. HB Wealth Management LLC grew its position in shares of Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $318.18 on Monday. The firm has a fifty day simple moving average of $351.63 and a two-hundred day simple moving average of $379.00. Trane Technologies has a 52 week low of $286.32 and a 52 week high of $422.00. 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 stock has a market capitalization of $71.36 billion, a P/E ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, analysts expect that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. Trane Technologies’s payout ratio is currently 33.42%.

Trane Technologies Company Profile

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.