Trane Technologies plc (NYSE:TT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Trane Technologies plc (NYSE:TT) have been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $321.14.

Several analysts recently issued reports on TT shares. Royal Bank of Canada upped 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. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Barclays upped their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a report on Thursday.

Trane Technologies Stock Down 4.5 %

TT stock opened at $318.45 on Wednesday. The stock has a market capitalization of $71.86 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.50 and a beta of 1.01. The firm has a 50-day simple moving average of $331.66 and a 200-day simple moving average of $306.41. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $351.41.

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

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.06%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

A number of large investors have recently modified their holdings of the company. Motco purchased a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. Sachetta LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC grew its position in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies in the 1st quarter valued at $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies in the 1st quarter valued at $30,000. 82.97% of the stock is owned by hedge funds and other 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.