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

Shares of Trane Technologies plc (NYSE:TT) have been given an average rating of “Moderate Buy” by the sixteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $427.47.

A number of analysts have weighed in on TT shares. Wells Fargo & Company increased their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. UBS Group increased their price objective on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Barclays dropped their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Robert W. Baird increased their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Citigroup increased their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st.

Trane Technologies Trading Down 0.1%

Shares of NYSE TT opened at $419.25 on Friday. The stock’s 50 day moving average price is $401.13 and its two-hundred day moving average price is $377.22. Trane Technologies has a 52-week low of $298.15 and a 52-week high of $436.61. The stock has a market capitalization of $93.50 billion, a P/E ratio of 34.88, a PEG ratio of 2.76 and a beta of 1.16. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. On average, analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is 31.28%.

Insider Activity

In related news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Hedge funds have recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies during the fourth quarter worth about $26,000. WFA Asset Management Corp grew its stake in shares of Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $28,000. Saudi Central Bank acquired a new position in shares of Trane Technologies in the 1st quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the 1st quarter worth approximately $31,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.