Trane Technologies plc (NYSE:TT) Given Consensus Recommendation of “Hold” by Analysts

Trane Technologies plc (NYSE:TT) has been given an average rating of “Hold” by the seventeen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $413.69.

Several equities analysts recently weighed in on TT shares. UBS Group decreased their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Northcoast Research started coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Barclays decreased their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st.

Trane Technologies Price Performance

Shares of TT opened at $350.28 on Thursday. The stock has a market capitalization of $78.56 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies has a twelve month low of $286.32 and a twelve month high of $422.00. The company has a 50 day moving average of $362.58 and a 200-day moving average of $379.83. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

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

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.07%. Trane Technologies’s dividend payout ratio is 33.42%.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,234 shares of company stock worth $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TT. Swedbank AB increased its stake in shares of Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after buying an additional 20,400 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $84,000. Apollon Wealth Management LLC increased its stake in shares of Trane Technologies by 45.3% in the third quarter. Apollon Wealth Management LLC now owns 8,630 shares of the company’s stock valued at $3,355,000 after buying an additional 2,691 shares during the period. Harbour Investments Inc. increased its position in Trane Technologies by 47.0% during the 3rd quarter. Harbour Investments Inc. now owns 920 shares of the company’s stock valued at $358,000 after purchasing an additional 294 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Trane Technologies by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 567,079 shares of the company’s stock valued at $220,441,000 after purchasing an additional 4,178 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.