Brokerages Set Trane Technologies plc (NYSE:TT) PT at $484.67

Shares of Trane Technologies plc (NYSE:TT) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $484.6667.

Several equities analysts have commented on TT shares. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Monday, December 15th. UBS Group lowered their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Oppenheimer boosted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Citigroup raised their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th.

Trane Technologies Price Performance

NYSE:TT opened at $461.71 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies has a one year low of $298.15 and a one year high of $479.37. The company has a fifty day moving average price of $417.67 and a 200 day moving average price of $416.55. The stock has a market cap of $102.19 billion, a P/E ratio of 35.57, a PEG ratio of 2.43 and a beta of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the previous year, the firm posted $2.61 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 28.97%.

Insider Buying and Selling

In other news, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.48, for a total value of $63,359.76. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,283,608. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the transaction, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,936 shares of company stock valued at $4,133,991. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently made changes to their positions in the company. Icon Advisers Inc. Co. bought a new position in Trane Technologies during the 2nd quarter valued at about $26,000. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the third quarter valued at approximately $25,000. Tucker Asset Management LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 61 shares in the last quarter. Finally, United Community Bank grew its position in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.