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

Trane Technologies plc (NYSE:TT) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $409.93.

TT has been the topic of a number of recent research reports. Northcoast Research started coverage on Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

Trane Technologies Trading Down 1.2 %

TT opened at $373.53 on Friday. The company has a fifty day moving average of $398.67 and a 200-day moving average of $368.33. Trane Technologies has a twelve month low of $233.76 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $84.05 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.79 EPS. On average, sell-side analysts predict that Trane Technologies will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.90%. Trane Technologies’s payout ratio is currently 31.17%.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in Trane Technologies by 18.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,685 shares of the company’s stock worth $4,172,000 after purchasing an additional 1,975 shares during the period. Arkadios Wealth Advisors bought a new position in Trane Technologies in the 2nd quarter worth approximately $271,000. Pinnacle Associates Ltd. grew its stake in Trane Technologies by 4.0% in the 2nd quarter. Pinnacle Associates Ltd. now owns 11,630 shares of the company’s stock valued at $3,825,000 after buying an additional 450 shares in the last quarter. Abacus Planning Group Inc. bought a new stake in Trane Technologies during the 2nd quarter valued at $205,000. Finally, Rothschild Investment LLC bought a new stake in Trane Technologies during the 2nd quarter valued at $240,000. Institutional investors 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.