Trane Technologies plc (NYSE:TT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Trane Technologies plc (NYSE:TT) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $506.5625.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. KeyCorp upped their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st.

Trane Technologies Trading Down 3.1%

TT stock opened at $466.65 on Tuesday. The company has a market cap of $103.15 billion, a P/E ratio of 36.09, a PEG ratio of 2.15 and a beta of 1.25. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $450.17 and a 200-day moving average of $428.86.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.45 earnings per share. As a group, equities research analysts expect that Trane Technologies will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 53,654 shares of company stock worth $23,269,523. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilkerson Advisory Group LLC grew its stake in Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $25,000. United Community Bank boosted its position in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Company Profile

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.