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

Trane Technologies plc (NYSE:TT) has received an average rating of “Hold” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $323.29.

A number of equities analysts have recently issued reports on TT shares. The Goldman Sachs Group raised their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup boosted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. TD Cowen upped their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st.

Trane Technologies Trading Up 0.6 %

Shares of NYSE TT opened at $352.91 on Friday. The firm has a 50 day moving average price of $335.48 and a two-hundred day moving average price of $314.52. The stock has a market cap of $79.88 billion, a P/E ratio of 37.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $355.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 earnings per share. As a group, equities analysts forecast that Trane Technologies will post 10.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 0.95%. Trane Technologies’s payout ratio is currently 35.90%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock worth $14,216,550 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.9% in the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock valued at $5,670,032,000 after purchasing an additional 174,251 shares during the last quarter. JPMorgan Chase & Co. grew its position in Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after purchasing an additional 80,536 shares in the last quarter. Norges Bank bought a new stake in Trane Technologies in the 4th quarter worth about $655,804,000. Capital World Investors lifted its position in shares of Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Trane Technologies by 17.3% in the 4th quarter. Franklin Resources Inc. now owns 1,655,459 shares of the company’s stock worth $403,766,000 after buying an additional 243,996 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.