Analysts Set Trane Technologies plc (NYSE:TT) Target Price at $484.67

Trane Technologies plc (NYSE:TT) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $484.6667.

TT has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Barclays boosted their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Morgan Stanley cut their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Finally, Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research report on Wednesday, January 7th.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Consulate Inc. purchased a new stake in Trane Technologies in the third quarter valued at approximately $25,000. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies during the fourth quarter worth $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies in the second quarter valued at $26,000. United Community Bank grew its stake in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares in the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $32,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $434.47 on Monday. Trane Technologies has a one year low of $298.15 and a one year high of $479.37. The company has a market cap of $96.16 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 2.26 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The business’s 50 day moving average price is $432.81 and its 200 day moving average price is $417.68.

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

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is currently 32.36%.

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.