Brokerages Set Trane Technologies plc (NYSE:TT) Price Target at $409.93

Trane Technologies plc (NYSE:TT - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $409.93.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Northcoast Research started 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. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Wells Fargo & Company upped their target price on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Finally, Robert W. Baird lowered their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st.

Trane Technologies Stock Down 1.2 %

Shares of NYSE TT traded down $4.51 during trading hours on Friday, hitting $373.53. 654,596 shares of the stock were exchanged, compared to its average volume of 1,066,957. Trane Technologies has a 12 month low of $233.76 and a 12 month high of $422.00. The firm has a fifty day moving average price of $398.67 and a 200-day moving average price of $368.63. 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 company has a market cap of $84.05 billion, a PE ratio of 34.65, a PEG ratio of 2.38 and a beta of 1.03.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm posted $2.79 earnings per share. The business's quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that Trane Technologies will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.90%. Trane Technologies's dividend payout ratio is currently 31.17%.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 4,329 shares of the business's stock in a transaction dated 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 completion of the sale, the senior vice president now owns 12,893 shares of the company's stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Institutional investors have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the third quarter worth about $36,000. Quarry LP purchased a new stake in Trane Technologies during the 2nd quarter valued at about $39,000. Pittenger & Anderson Inc. acquired a new stake in Trane Technologies in the 3rd quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new position in Trane Technologies in the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.