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

Shares of Trane Technologies plc (NYSE:TT) have received a consensus rating of “Hold” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $323.29.

Several research analysts have issued reports on TT shares. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird increased their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. UBS Group raised their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st.

Insider Buying and Selling

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. Insiders sold 44,243 shares of company stock worth $14,216,550 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. PFG Private Wealth Management LLC grew its stake in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after acquiring an additional 32 shares during the period. Center for Financial Planning Inc. grew its stake in Trane Technologies by 1.7% in the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after acquiring an additional 34 shares during the period. Bell Investment Advisors Inc boosted its stake in Trane Technologies by 26.5% during the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after purchasing an additional 35 shares during the last quarter. Muirfield Wealth Advisors LLC boosted its stake in Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after purchasing an additional 37 shares during the last quarter. Finally, Pure Financial Advisors LLC boosted its stake in Trane Technologies by 5.2% during the 2nd quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 1.9 %

TT stock opened at $361.66 on Friday. The company has a market capitalization of $81.86 billion, a PE ratio of 38.64, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies has a 12 month low of $184.02 and a 12 month high of $362.43. The firm’s 50-day moving average is $337.00 and its 200 day moving average is $317.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the business earned $2.68 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Trane Technologies will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

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.