Trane Technologies plc (NYSE:TT) Given Average Recommendation of “Hold” by Brokerages

Shares of Trane Technologies plc (NYSE:TT) have received an average recommendation of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $397.64.

TT has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Morgan Stanley started coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. Finally, Robert W. Baird decreased their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

Institutional Trading of Trane Technologies

Several large investors have recently added to or reduced their stakes in TT. Massmutual Trust Co. FSB ADV increased its position in shares of Trane Technologies by 22.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 736 shares of the company’s stock valued at $242,000 after purchasing an additional 134 shares during the period. CWM LLC increased its position in shares of Trane Technologies by 12.0% during the 2nd quarter. CWM LLC now owns 6,483 shares of the company’s stock valued at $2,132,000 after purchasing an additional 697 shares during the period. Thomasville National Bank acquired a new position in shares of Trane Technologies during the 2nd quarter valued at $208,000. Contravisory Investment Management Inc. acquired a new position in shares of Trane Technologies during the 2nd quarter valued at $431,000. Finally, Fortitude Family Office LLC increased its position in shares of Trane Technologies by 63.2% during 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. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 0.4 %

NYSE:TT opened at $414.61 on Tuesday. The firm has a market cap of $93.30 billion, a P/E ratio of 38.46, a PEG ratio of 2.52 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $398.01 and its 200-day simple moving average is $359.50. Trane Technologies has a 12-month low of $226.18 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share 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 firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Trane Technologies will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

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.