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

Trane Technologies plc (NYSE:TT) has earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $509.1176.

Several analysts have recently weighed in on TT shares. Royal Bank Of Canada boosted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the 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 sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after purchasing an additional 192,270 shares during the period. State Street Corp lifted its stake in shares of Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after purchasing an additional 61,393 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Trane Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after buying an additional 14,179 shares during the period. Norges Bank purchased a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $1,163,124,000. Finally, Nordea Investment Management AB increased its stake in 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. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 2.2%

Shares of NYSE:TT opened at $490.94 on Wednesday. Trane Technologies has a 52 week low of $348.06 and a 52 week high of $505.87. The company’s 50 day moving average is $470.56 and its two-hundred day moving average is $439.48. The company has a market cap of $108.52 billion, a PE ratio of 37.97, a P/E/G ratio of 2.21 and a beta of 1.20. 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 released its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.45 EPS. Equities analysts predict that Trane Technologies will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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 dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Trane Technologies Company Profile

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.