Trane Technologies plc (NYSE:TT) Receives $415.25 Average PT from Brokerages

Trane Technologies plc (NYSE:TT) has received an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $415.25.

TT has been the topic of a number of recent analyst reports. Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research note on Thursday, October 31st. Citigroup reduced their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st.

Trane Technologies Trading Down 1.0 %

Trane Technologies stock opened at $366.74 on Friday. The company has a market cap of $82.26 billion, a P/E ratio of 32.60, a PEG ratio of 2.48 and a beta of 1.05. The firm’s 50-day moving average is $375.72 and its 200-day moving average is $379.16. Trane Technologies has a 1 year low of $274.77 and a 1 year high of $422.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities analysts expect that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 29.87%.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,563 shares of company stock worth $4,388,966 over the last 90 days. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TT. Creative Planning increased its stake in Trane Technologies by 5.8% in the 3rd quarter. Creative Planning now owns 62,756 shares of the company’s stock valued at $24,395,000 after buying an additional 3,446 shares during the period. Swedbank AB increased its stake in Trane Technologies by 2.8% in the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the period. Global Retirement Partners LLC increased its stake in Trane Technologies by 37.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 470 shares during the period. Bleakley Financial Group LLC increased its stake in Trane Technologies by 78.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,612 shares of the company’s stock valued at $2,570,000 after buying an additional 2,904 shares during the period. Finally, Trust Co. of Vermont increased its stake in Trane Technologies by 21.6% in the 3rd quarter. Trust Co. of Vermont now owns 411 shares of the company’s stock valued at $160,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.