Trane Technologies plc (NYSE:TT) Receives Consensus Rating of "Hold" from Brokerages

Trane Technologies plc (NYSE:TT - Get Free Report) has received an average recommendation of "Hold" from the seventeen research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $413.69.

A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday. Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Citigroup decreased their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Melius cut shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 770 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $26,000. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies in the 4th quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new stake in Trane Technologies during the 4th quarter valued at $28,000. Finally, Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after acquiring an additional 92 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Up 1.7 %

NYSE:TT opened at $339.72 on Thursday. Trane Technologies has a 12 month low of $285.62 and a 12 month high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $76.20 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.50 and a beta of 1.08. The firm has a fifty day simple moving average of $366.02 and a two-hundred day simple moving average of $380.11.

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Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping 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 expect that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's payout ratio is 33.42%.

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.

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