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

Shares of Trane Technologies plc (NYSE:TT) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $506.5625.

Several research firms have recently weighed in on TT. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. BNP Paribas Exane assumed coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Barclays raised their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st.

Trane Technologies Stock Down 1.6%

TT opened at $456.51 on Friday. The firm’s 50-day simple moving average is $458.85 and its 200-day simple moving average is $431.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $503.47. The firm has a market cap of $100.91 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.14 and a beta of 1.20.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Trane Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC grew its position in shares of Trane Technologies by 169.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after buying an additional 9,276 shares during the period. Nordea Investment Management AB grew its position in shares of Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares during the period. Farther Finance Advisors LLC grew its position in shares of Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after buying an additional 2,917 shares during the period. Varma Mutual Pension Insurance Co grew its position in shares of Trane Technologies by 9.0% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock worth $18,486,000 after buying an additional 3,600 shares during the period. Finally, Korea Investment CORP grew its position in shares of Trane Technologies by 17.5% during the 3rd quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock worth $86,373,000 after buying an additional 30,558 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.