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

Shares of Trane Technologies plc (NYSE:TT) have been given an average recommendation of “Hold” by the seventeen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $415.25.

Several research firms have commented on TT. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. UBS Group decreased their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th.

Trane Technologies Stock Performance

TT stock opened at $366.74 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $82.26 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 2.48 and a beta of 1.05. Trane Technologies has a 12 month low of $274.77 and a 12 month high of $422.00. The firm has a 50 day moving average of $375.72 and a two-hundred day moving average of $379.16.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

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

Insider Activity

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds have recently made changes to their positions in TT. Creative Planning increased its position in shares of Trane Technologies by 5.8% during the 3rd quarter. Creative Planning now owns 62,756 shares of the company’s stock worth $24,395,000 after purchasing an additional 3,446 shares in the last quarter. Swedbank AB increased its position in shares of Trane Technologies by 2.8% during the 3rd quarter. Swedbank AB now owns 743,794 shares of the company’s stock worth $289,135,000 after purchasing an additional 20,400 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Trane Technologies by 37.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock worth $670,000 after purchasing an additional 470 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Trane Technologies by 78.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,612 shares of the company’s stock worth $2,570,000 after purchasing an additional 2,904 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Trane Technologies by 21.6% during the 3rd quarter. Trust Co. of Vermont now owns 411 shares of the company’s stock worth $160,000 after purchasing an additional 73 shares in the last quarter. 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.