Trane Technologies plc (NYSE:TT) Receives Consensus Rating of “Hold” from Brokerages

Trane Technologies plc (NYSE:TT) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $380.15.

Several research analysts have commented on TT shares. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Robert W. Baird reduced their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the third quarter worth approximately $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the third quarter valued at about $36,000. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter valued at about $39,000. Fortitude Family Office LLC lifted 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 purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in shares of Trane Technologies in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.9 %

Trane Technologies stock opened at $411.22 on Friday. The firm has a market capitalization of $92.53 billion, a price-to-earnings ratio of 38.49, a P/E/G ratio of 2.60 and a beta of 1.02. Trane Technologies has a 1-year low of $221.22 and a 1-year high of $416.86. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $382.76 and a 200 day simple moving average of $350.45.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company earned $2.79 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Trane Technologies will post 11.13 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio is currently 31.17%.

Trane Technologies Company Profile

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.