Trane Technologies plc (NYSE:TT) Receives $413.69 Consensus PT from Brokerages

Trane Technologies plc (NYSE:TT) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $413.69.

Several equities research analysts have issued reports on the stock. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Citigroup decreased their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently modified their holdings of the business. Tidal Investments LLC grew its stake in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after acquiring an additional 2,874 shares in the last quarter. Synovus Financial Corp lifted its position in Trane Technologies by 16.8% during the third 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 last quarter. Ameritas Advisory Services LLC bought a new stake in Trane Technologies during the fourth quarter valued at approximately $468,000. HB Wealth Management LLC lifted its position in Trane Technologies by 14.3% during the fourth 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 last quarter. Finally, King Wealth Management Group bought a new stake in Trane Technologies during the third quarter valued at approximately $1,879,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 2.8 %

Shares of TT stock opened at $348.48 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies has a 1 year low of $286.32 and a 1 year high of $422.00. The firm’s fifty day moving average price is $364.65 and its two-hundred day moving average price is $379.99. The firm has a market capitalization of $78.16 billion, a P/E ratio of 30.98, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 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.