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

Trane Technologies plc (NYSE:TT) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $484.6667.

Several research analysts have commented on TT shares. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a report on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Oppenheimer increased their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Citigroup raised their price target on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th.

Trane Technologies Price Performance

Trane Technologies stock opened at $410.35 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a market cap of $90.82 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. The firm has a 50-day moving average of $430.25 and a two-hundred day moving average of $417.36. Trane Technologies has a 1 year low of $298.15 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.61 earnings per share. On average, research analysts forecast that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 49,378 shares of company stock worth $21,228,464 over the last quarter. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Icon Advisers Inc. Co. purchased a new position in Trane Technologies in the second quarter valued at about $26,000. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies during the third quarter valued at about $25,000. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $25,000. United Community Bank boosted its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth approximately $32,000. 82.97% of the stock is owned by institutional investors.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.