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

Trane Technologies plc (NYSE:TT) has been given an average rating of “Hold” by the seventeen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $413.69.

Several equities research analysts have recently issued reports on TT shares. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Melius Research reiterated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the sale, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC lifted its stake in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after purchasing an additional 2,874 shares during the period. Synovus Financial Corp lifted its stake in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after purchasing an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $468,000. HB Wealth Management LLC lifted its stake in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the period. Finally, King Wealth Management Group acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $1,879,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

TT stock opened at $351.46 on Thursday. Trane Technologies has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $364.02 and a two-hundred day simple moving average of $380.16. The firm has a market capitalization of $78.83 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

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.