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

Trane Technologies plc (NYSE:TT) has earned an average recommendation of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $373.58.

A number of analysts have weighed in on the stock. 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 report on Thursday, August 1st. Barclays increased their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley began coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th.

Insider Buying and Selling at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth about $831,000. Syon Capital LLC boosted its holdings in shares of Trane Technologies by 17.6% in the fourth quarter. Syon Capital LLC now owns 2,329 shares of the company’s stock worth $568,000 after buying an additional 349 shares during the period. American International Group Inc. boosted its holdings in shares of Trane Technologies by 2.2% in the fourth quarter. American International Group Inc. now owns 62,358 shares of the company’s stock worth $15,209,000 after buying an additional 1,326 shares during the period. SageView Advisory Group LLC boosted its holdings in shares of Trane Technologies by 30.5% in the fourth quarter. SageView Advisory Group LLC now owns 8,670 shares of the company’s stock worth $2,235,000 after buying an additional 2,024 shares during the period. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth about $588,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.6 %

Shares of NYSE:TT opened at $402.54 on Monday. The stock has a market capitalization of $91.12 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies has a 1-year low of $184.02 and a 1-year high of $406.96. The company’s fifty day moving average is $369.37 and its two-hundred day moving average is $339.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion for 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 firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 earnings per share. Equities analysts anticipate that Trane Technologies will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.83%. Trane Technologies’s payout ratio is 35.90%.

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.