Analysts Set Trane Technologies plc (NYSE:TT) Price Target at $323.29

Shares of Trane Technologies plc (NYSE:TT) have been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $323.29.

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th.

Trane Technologies Trading Up 0.8 %

Shares of Trane Technologies stock opened at $355.02 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. The business has a fifty day simple moving average of $336.07 and a two-hundred day simple moving average of $316.18. Trane Technologies has a 1 year low of $184.02 and a 1 year high of $359.90. The company has a market capitalization of $80.36 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. The business 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%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.68 EPS. Research analysts forecast that Trane Technologies will post 10.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.95%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the 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 completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The disclosure for this sale can be found here. Insiders have sold a total of 44,243 shares of company stock worth $14,216,550 over the last 90 days. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GoalVest Advisory LLC raised its holdings in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies in the first quarter worth approximately $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies in the first quarter valued at approximately $30,000. Sachetta LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $27,000. Finally, Motco bought a new stake in Trane Technologies during the fourth quarter worth $27,000. 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.