Analysts Set Trane Technologies plc (NYSE:TT) Target Price at $367.33

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

TT has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays lifted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th.

Insider Activity at Trane Technologies

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

Institutional Trading of Trane Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. GoalVest Advisory LLC boosted its stake in Trane Technologies by 157.1% during 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 position in Trane Technologies during the first quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new position in Trane Technologies during the 1st quarter valued at $30,000. Fortitude Family Office LLC boosted its holdings in Trane Technologies by 63.2% in the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the 2nd quarter worth $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE TT opened at $395.37 on Monday. Trane Technologies has a 12 month low of $184.02 and a 12 month high of $406.96. The firm has a market capitalization of $89.49 billion, a PE ratio of 42.24, a P/E/G ratio of 2.75 and a beta of 1.01. The company’s 50 day simple moving average is $366.53 and its 200 day simple moving average is $338.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.13 billion. During the same period last year, the firm earned $2.68 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies will post 10.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 0.85%. Trane Technologies’s dividend payout ratio is 35.90%.

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.