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

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

A number of equities research analysts recently issued reports on the stock. Oppenheimer upped their price objective 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. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. Barclays increased their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Finally, Citigroup upped their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th.

Trane Technologies Trading Up 0.0%

Shares of TT opened at $410.32 on Monday. Trane Technologies has a 52-week low of $298.15 and a 52-week high of $479.37. The stock has a market cap of $90.82 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. The firm’s fifty day moving average is $433.62 and its two-hundred day moving average is $417.64. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share 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 firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period last year, the firm posted $2.61 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts forecast that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Insider Activity at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Consulate Inc. acquired a new position in Trane Technologies during the third quarter worth approximately $25,000. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Icon Advisers Inc. Co. purchased a new position in shares of Trane Technologies during the second quarter worth approximately $26,000. United Community Bank increased its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $32,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.