Trane Technologies plc (NYSE:TT) Given Average Recommendation of "Hold" by Brokerages

Trane Technologies plc (NYSE:TT - Get Free Report) has received a consensus rating of "Hold" from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $415.25.

A number of equities research analysts have recently commented on the company. UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Hsbc Global Res downgraded shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Royal Bank of Canada upped their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. Finally, Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They set a "buy" rating and a $500.00 price target on the stock.

Trane Technologies Price Performance

Trane Technologies stock traded up $7.13 during mid-day trading on Friday, hitting $370.04. 1,168,821 shares of the company were exchanged, compared to its average volume of 1,490,602. Trane Technologies has a 12-month low of $270.50 and a 12-month high of $422.00. The company has a market capitalization of $83.00 billion, a P/E ratio of 32.89, a PEG ratio of 2.48 and a beta of 1.05. The business's 50 day simple moving average is $376.98 and its two-hundred day simple moving average is $379.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts forecast that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio (DPR) is 29.87%.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,563 shares of company stock valued at $4,388,966. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pinney & Scofield Inc. acquired a new stake in shares of Trane Technologies during the fourth quarter worth approximately $55,000. Parr Mcknight Wealth Management Group LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $314,000. Alpine Global Management LLC acquired a new position in Trane Technologies in the fourth quarter worth $515,000. Vise Technologies Inc. boosted its holdings in shares of Trane Technologies by 157.2% in the 4th quarter. Vise Technologies Inc. now owns 2,446 shares of the company's stock valued at $904,000 after buying an additional 1,495 shares during the period. Finally, Connecticut Wealth Management LLC grew its holdings in shares of Trane Technologies by 16.4% during the fourth quarter. Connecticut Wealth Management LLC now owns 2,400 shares of the company's stock valued at $886,000 after purchasing an additional 338 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

About Trane Technologies

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.