Trane Technologies plc (NYSE:TT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Trane Technologies plc (NYSE:TT) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $367.33.

A number of equities analysts have commented on the stock. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Royal Bank of Canada increased their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barclays increased their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors have recently bought and sold shares of TT. GoalVest Advisory LLC lifted its stake in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies during the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Trane Technologies in the 1st quarter worth about $30,000. Fortitude Family Office LLC increased its stake in shares of Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies during the 2nd quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $399.86 on Monday. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $400.29. The stock’s 50-day simple moving average is $361.78 and its 200 day simple moving average is $336.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a market capitalization of $90.51 billion, a price-to-earnings ratio of 42.72, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the business posted $2.68 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Research analysts forecast that Trane Technologies will post 10.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Trane Technologies’s dividend payout ratio is currently 35.90%.

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.