Analysts Set Trane Technologies plc (NYSE:TT) Target Price at $521.50

Trane Technologies plc (NYSE:TT) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $521.50.

A number of analysts have issued reports on TT shares. Sanford C. Bernstein lifted their target price on shares of Trane Technologies from $555.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Royal Bank Of Canada dropped their price target on shares of Trane Technologies from $501.00 to $496.00 and set a “sector perform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd.

Trane Technologies Stock Performance

Shares of TT stock opened at $463.43 on Thursday. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The stock’s 50-day moving average is $474.23 and its two-hundred day moving average is $461.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76. The firm has a market cap of $101.97 billion, a P/E ratio of 35.11, a PEG ratio of 2.00 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%.The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company earned $3.88 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. Analysts predict that Trane Technologies will post 15.31 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s payout ratio is currently 31.82%.

Insider Activity

In other news, CEO David S. Regnery sold 43,778 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the transaction, the chief executive officer owned 96,950 shares of the company’s stock, valued at approximately $46,051,250. This represents a 31.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in Trane Technologies by 47,507.9% in the 2nd quarter. California State Teachers Retirement System now owns 162,012,073 shares of the company’s stock worth $79,573,850,000 after buying an additional 161,671,768 shares during the period. Norges Bank bought a new position in Trane Technologies during the fourth quarter worth $1,163,124,000. Capital International Investors acquired a new position in Trane Technologies during the 4th quarter valued at $324,639,000. Amundi boosted its holdings in Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after purchasing an additional 703,018 shares during the period. Finally, First Trust Advisors LP grew its position in Trane Technologies by 536.6% in the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock worth $221,763,000 after purchasing an additional 448,547 shares during the last quarter. Institutional investors and hedge funds 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.