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

Shares of Trane Technologies plc (NYSE:TT) have been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $427.47.

TT has been the subject of several research analyst reports. Citigroup lifted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Hsbc Global Res raised shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. Finally, Stephens raised shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on 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 sale, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently made changes to their positions in TT. Norges Bank acquired a new stake in shares of Trane Technologies during the fourth quarter worth $1,117,816,000. Nuveen LLC acquired a new stake in shares of Trane Technologies during the first quarter worth $877,468,000. GAMMA Investing LLC grew its stake in shares of Trane Technologies by 35,458.2% during 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 during the period. Raymond James Financial Inc. acquired a new position in Trane Technologies in the fourth quarter valued at about $611,322,000. Finally, Wellington Management Group LLP grew its stake in Trane Technologies by 245.1% in the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock valued at $722,493,000 after acquiring an additional 1,522,933 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 0.1%

Shares of NYSE:TT opened at $423.71 on Tuesday. The company’s fifty day moving average is $367.75 and its 200-day moving average is $374.96. 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 has a 52 week low of $298.15 and a 52 week high of $433.60. The company has a market capitalization of $94.50 billion, a PE ratio of 37.66, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. Equities research analysts predict that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies’s payout ratio is 31.28%.

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.