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

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

Several research analysts recently commented on the company. Oppenheimer boosted their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Wells Fargo & Company raised their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Barclays raised their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th.

Trane Technologies Stock Down 0.7%

TT stock opened at $460.32 on Thursday. The firm has a market cap of $101.88 billion, a PE ratio of 35.46, a PEG ratio of 2.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies has a one year low of $298.15 and a one year high of $479.37. The firm’s 50 day moving average price is $414.81 and its 200-day moving average price is $416.19.

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

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 28.97%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald E. Simmons sold 822 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,766,554.83. This represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Consulate Inc. acquired a new stake in Trane Technologies during the third quarter valued at approximately $25,000. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies during the second quarter worth $26,000. Hantz Financial Services Inc. lifted its stake in Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, United Community Bank boosted its stake in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. 82.97% of the stock is currently owned by hedge funds and other 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.