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

Trane Technologies plc (NYSE:TT) has received a consensus rating of “Hold” from the thirteen analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $343.54.

A number of analysts have commented on the company. UBS Group boosted their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Morgan Stanley initiated coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Barclays increased 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. Finally, Stephens restated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th.

Trane Technologies Stock Up 1.0 %

Shares of NYSE TT opened at $387.70 on Thursday. The stock has a market capitalization of $87.49 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $390.60. The firm has a 50-day moving average price of $346.45 and a 200 day moving average price of $327.42. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. Equities research analysts anticipate that Trane Technologies will post 10.87 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David S. Regnery sold 29,450 shares of the 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC lifted its holdings in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies in the first quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies in the first quarter valued at about $30,000. Sachetta LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $27,000. Finally, Fortitude Family Office LLC lifted its position in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.