Trane Technologies plc (NYSE:TT) Receives $409.93 Consensus Target Price from Analysts

Shares of Trane Technologies plc (NYSE:TT) have earned an average rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $409.93.

Several brokerages have recently commented on TT. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Citigroup lifted their target price on Trane Technologies from $457.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th.

Trane Technologies Stock Performance

NYSE:TT opened at $370.86 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a 50-day simple moving average of $398.67 and a two-hundred day simple moving average of $368.89. The firm has a market capitalization of $83.45 billion, a PE ratio of 34.40, a P/E/G ratio of 2.38 and a beta of 1.03. Trane Technologies has a 52-week low of $233.76 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the company posted $2.79 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Analysts forecast that Trane Technologies will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 0.91%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is 31.17%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently made changes to their positions in TT. Cambridge Investment Research Advisors Inc. boosted its holdings in Trane Technologies by 18.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,685 shares of the company’s stock valued at $4,172,000 after acquiring an additional 1,975 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of Trane Technologies during the second quarter valued at $271,000. Pinnacle Associates Ltd. grew its holdings in shares of Trane Technologies by 4.0% in the second quarter. Pinnacle Associates Ltd. now owns 11,630 shares of the company’s stock worth $3,825,000 after purchasing an additional 450 shares during the last quarter. Abacus Planning Group Inc. purchased a new position in Trane Technologies in the 2nd quarter worth about $205,000. Finally, Rothschild Investment LLC bought a new stake in Trane Technologies during the 2nd quarter valued at about $240,000. Institutional investors own 82.97% of the company’s stock.

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.