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

Shares of Trane Technologies plc (NYSE:TT) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $323.29.

TT has been the subject of several analyst reports. Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Mizuho increased their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, UBS Group raised their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction dated 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 transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,243 shares of company stock worth $14,216,550. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock valued at $5,221,599,000 after buying an additional 80,536 shares during the period. Norges Bank purchased a new position in shares of Trane Technologies during the 4th quarter valued at $655,804,000. Capital World Investors increased its stake in shares of Trane Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Trane Technologies by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock worth $403,766,000 after acquiring an additional 243,996 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $352.91 on Friday. The company has a market cap of $79.88 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $335.48 and a two-hundred day moving average price of $314.52. Trane Technologies has a 12-month low of $184.02 and a 12-month high of $355.02.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the company posted $2.68 earnings per share. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 0.95%. Trane Technologies’s payout ratio is 35.90%.

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.