Trane Technologies plc (NYSE:TT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Trane Technologies plc (NYSE:TT) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $421.07.

Several analysts recently weighed in on the stock. HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. The trade was a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,805 shares of company stock worth $3,945,082. Insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Trane Technologies in the 4th quarter worth about $1,117,816,000. GAMMA Investing LLC lifted its position in shares of Trane Technologies by 35,458.2% in the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock worth $679,161,000 after purchasing an additional 2,010,123 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $611,322,000. Northern Trust Corp grew its position in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Trane Technologies in the 4th quarter valued at approximately $147,251,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.5 %

NYSE TT opened at $393.03 on Friday. The firm has a market capitalization of $88.15 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies has a one year low of $298.15 and a one year high of $422.00. The company has a 50-day simple moving average of $343.25 and a 200-day simple moving average of $372.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the firm earned $1.94 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.96%. Trane Technologies’s dividend payout ratio (DPR) is 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.