Trane Technologies plc (NYSE:TT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Trane Technologies plc (NYSE:TT) have earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, ten have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $516.6667.

Several equities research analysts have issued reports on TT shares. Evercore began coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Sanford C. Bernstein set a $555.00 price target on shares of Trane Technologies in a research note on Thursday, July 9th. Royal Bank Of Canada boosted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th.

Trane Technologies Stock Up 0.3%

NYSE:TT opened at $481.09 on Friday. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a market cap of $106.34 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The stock has a fifty day simple moving average of $470.13 and a 200-day simple moving average of $449.87. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.45 earnings per share. Analysts anticipate that Trane Technologies will post 14.89 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Trane Technologies during the second quarter valued at approximately $227,000. Nebula Research & Development LLC increased its holdings in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after buying an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after buying an additional 497 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.