Trane Technologies plc (NYSE:TT) Receives Average Recommendation of “Hold” from Analysts

Shares of Trane Technologies plc (NYSE:TT) have received a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $397.64.

A number of equities research analysts have recently weighed in on TT shares. Barclays boosted their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, Mizuho upped their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th.

Trane Technologies Stock Down 0.4 %

Shares of TT opened at $414.61 on Tuesday. The company has a market cap of $93.30 billion, a PE ratio of 38.46, a P/E/G ratio of 2.52 and a beta of 1.02. The business has a fifty day moving average of $398.01 and a 200 day moving average of $359.50. Trane Technologies has a 52-week low of $226.18 and a 52-week 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.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.79 earnings per share. On average, sell-side analysts expect that Trane Technologies will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is presently 31.17%.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter worth approximately $36,000. Fortitude Family Office LLC increased its position in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares during the period. Triad Wealth Partners LLC acquired a new position in Trane Technologies during the second quarter worth approximately $39,000. Finally, Quarry LP acquired a new position in Trane Technologies during the second quarter worth approximately $39,000. Hedge funds and other 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.