Trane Technologies plc (NYSE:TT) Stock Has Consensus Price Target of $535.89 According to Analysts

Shares of Trane Technologies plc (NYSE:TT) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $535.89.

TT has been the topic of several analyst reports. Argus set a $500.00 price target on Trane Technologies in a research report on Friday, October 30th. Robert W. Baird boosted their price objective on Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Wells Fargo & Company assumed coverage on Trane Technologies in a report on Friday, September 25th. They issued an “overweight” rating and a $536.00 price objective for the company. BNP Paribas Exane upped their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised Trane Technologies from a “hold” rating to a “buy” rating in a report on Saturday, October 31st.

Insider Buying and Selling

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total value of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. This represents a 33.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Large investors have recently made changes to their positions in the company. Toth Financial Advisory Corp increased its holdings in shares of Trane Technologies by 10.6% in the third quarter. Toth Financial Advisory Corp now owns 239 shares of the company’s stock valued at $108,000 after purchasing an additional 23 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its stake in Trane Technologies by 1.9% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,257 shares of the company’s stock worth $568,000 after buying an additional 23 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Trane Technologies by 14.5% during the first quarter. Cornerstone Planning Group LLC now owns 190 shares of the company’s stock worth $79,000 after buying an additional 24 shares during the last quarter. Westfuller Advisors LLC boosted its stake in Trane Technologies by 5.9% during the first quarter. Westfuller Advisors LLC now owns 447 shares of the company’s stock worth $186,000 after buying an additional 25 shares during the last quarter. Finally, NFSG Corp grew its holdings in Trane Technologies by 4.8% in the 1st quarter. NFSG Corp now owns 546 shares of the company’s stock valued at $228,000 after buying an additional 25 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 4.5%

TT stock opened at $391.97 on Tuesday. The company has a market capitalization of $85.80 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Trane Technologies has a 12 month low of $348.06 and a 12 month high of $505.87. The firm’s fifty day simple moving average is $446.73 and its 200-day simple moving average is $454.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.12. The firm had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.88 earnings per share. As a group, equities research analysts forecast that Trane Technologies will post 15.29 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 1.1%. Trane Technologies’s payout ratio is presently 29.66%.

About Trane Technologies

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.