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

Trane Technologies plc (NYSE:TT) has received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $516.6667.

TT has been the subject of a number of analyst reports. Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a report on Thursday, July 9th. Citigroup boosted their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Friday, July 17th. Finally, KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

A number of large investors have recently made changes to their positions in TT. Tucker Asset Management LLC bought a new stake in Trane Technologies in the fourth quarter worth about $25,000. Wilkerson Advisory Group LLC boosted its position in shares of Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $32,000. Elevation Wealth Partners LLC grew its stake in shares of Trane Technologies by 153.8% during the second quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock valued at $32,000 after buying an additional 40 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter worth approximately $32,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.3%

Shares of TT opened at $481.09 on Friday. The stock has a market capitalization of $106.34 billion, a PE ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.19. The company’s fifty day moving average is $470.13 and its 200 day moving average is $449.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $505.87.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the business earned $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is presently 32.48%.

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.