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

Shares of Trane Technologies plc (NYSE:TT) have been given an average rating of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $251.83.

TT has been the subject of several research reports. Stephens boosted their price objective on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Royal Bank of Canada boosted their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Barclays lifted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup increased their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th.

Insider Activity at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock valued at $8,462,825 over the last 90 days. 0.39% of the stock is owned by corporate insiders.

Institutional Trading of Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the last quarter. Xponance Inc. increased its stake in Trane Technologies by 18.6% in the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after purchasing an additional 6,869 shares during the period. CHICAGO TRUST Co NA raised its holdings in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after buying an additional 64 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after buying an additional 42,409 shares during the last quarter. Finally, Wealth Effects LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $239,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $304.53 on Monday. The firm has a fifty day moving average price of $292.22 and a 200 day moving average price of $254.87. The stock has a market cap of $69.15 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.57 and a beta of 1.05. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 EPS. Equities research analysts anticipate that Trane Technologies will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

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.