Trane Technologies plc (NYSE:TT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Trane Technologies plc (NYSE:TT) have received an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $415.25.

A number of equities research analysts have weighed in on the company. Barclays upped their target price on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. HSBC cut Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a report on Thursday, October 31st. UBS Group dropped their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a report on Tuesday, January 28th. Finally, Robert W. Baird dropped their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was 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 in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,563 shares of company stock valued at $4,388,966 in the last three months. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trane Technologies

Hedge funds have recently modified their holdings of the stock. Creative Planning boosted its holdings in Trane Technologies by 5.8% in the third quarter. Creative Planning now owns 62,756 shares of the company’s stock worth $24,395,000 after purchasing an additional 3,446 shares in the last quarter. Swedbank AB boosted its holdings in Trane Technologies by 2.8% during the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares during the period. Global Retirement Partners LLC boosted its holdings in Trane Technologies by 37.5% during the third quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock valued at $670,000 after acquiring an additional 470 shares during the period. Bleakley Financial Group LLC boosted its holdings in Trane Technologies by 78.3% during the third quarter. Bleakley Financial Group LLC now owns 6,612 shares of the company’s stock valued at $2,570,000 after acquiring an additional 2,904 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in Trane Technologies by 21.6% during the third quarter. Trust Co. of Vermont now owns 411 shares of the company’s stock valued at $160,000 after acquiring an additional 73 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT opened at $354.56 on Friday. The company has a market capitalization of $79.52 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies has a 1-year low of $279.00 and a 1-year high of $422.00. The business has a 50 day moving average price of $374.82 and a two-hundred day moving average price of $379.83.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts predict that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, March 7th. Trane Technologies’s payout ratio is 29.87%.

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.