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

Trane Technologies plc (NYSE:TT) has been assigned a consensus recommendation of “Hold” from the fifteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $409.93.

A number of analysts recently issued reports on TT shares. The Goldman Sachs Group lifted their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. UBS Group started coverage on Trane Technologies in a research note on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective on the stock. Mizuho raised their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Citigroup upped their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Morgan Stanley assumed coverage on shares of Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company.

Trane Technologies Trading Down 1.2 %

NYSE:TT opened at $373.53 on Friday. 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 has a twelve month low of $233.76 and a twelve month high of $422.00. The company has a market cap of $84.05 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The business has a 50 day moving average price of $398.67 and a two-hundred day moving average price of $368.33.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm earned $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts expect that Trane Technologies will post 11.13 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Trane Technologies’s payout ratio is 31.17%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after buying an additional 397,537 shares during the last quarter. State Street Corp lifted its holdings in shares of Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after purchasing an additional 77,830 shares during the period. Geode Capital Management LLC grew its stake in shares of Trane Technologies by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock worth $1,797,700,000 after purchasing an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock valued at $991,460,000 after purchasing an additional 671,691 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after purchasing an additional 20,151 shares during the last quarter. Institutional investors and hedge funds 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.