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

Shares of Trane Technologies plc (NYSE:TT) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $251.83.

TT has been the subject of several research reports. Stephens upped their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup boosted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd.

Trane Technologies Stock Down 0.4 %

TT stock opened at $288.27 on Monday. Trane Technologies has a 52 week low of $162.04 and a 52 week high of $306.98. The stock has a market capitalization of $65.46 billion, a P/E ratio of 32.80, a P/E/G ratio of 2.43 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $289.67 and a 200-day simple moving average of $251.65.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the company earned $1.82 EPS. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Trane Technologies will post 10.2 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 Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.17%. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insider Buying and Selling

In related news, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now directly owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter valued at $526,026,000. Moneta Group Investment Advisors LLC grew its position in shares of Trane Technologies by 109,668.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,963,758 shares of the company’s stock valued at $330,088,000 after buying an additional 1,961,969 shares during the last quarter. First Trust Advisors LP grew its position in shares of Trane Technologies by 2,606.5% in the 1st quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after buying an additional 1,041,224 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after buying an additional 1,030,247 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the last quarter. 82.97% of the stock is 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.