Trane Technologies plc (NYSE:TT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Trane Technologies plc (NYSE:TT) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $484.6667.

TT has been the subject of a number of research reports. Barclays raised their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Morgan Stanley lowered their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David S. Regnery sold 5,588 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the sale, the chief executive officer owned 96,948 shares in the company, valued at $44,848,144.80. This trade represents a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the third quarter valued at $25,000. Tucker Asset Management LLC bought a new position in Trane Technologies during the 4th quarter worth $25,000. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies during the second quarter worth approximately $26,000. Hantz Financial Services Inc. increased its position in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the period. Finally, United Community Bank lifted its stake in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.7%

TT opened at $460.32 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $101.88 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 2.44 and a beta of 1.21. The business has a 50 day moving average of $414.81 and a 200-day moving average of $416.19. Trane Technologies has a 1-year low of $298.15 and a 1-year high of $479.37.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the company earned $2.61 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 28.97%.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.