Trane Technologies plc (NYSE:TT) Receives Consensus Rating of “Moderate Buy” from Analysts

Trane Technologies plc (NYSE:TT) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $484.6667.

Several equities analysts recently issued reports on TT shares. Royal Bank Of Canada increased their target price on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $490.00 to $550.00 in a report on Thursday, November 13th. Finally, Citigroup raised their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 5,588 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total value of $2,585,008.80. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $44,848,144.80. This trade represents a 5.45% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 8,936 shares of company stock valued at $4,133,991. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pure Financial Advisors LLC raised its position in shares of Trane Technologies by 14.2% during the 4th quarter. Pure Financial Advisors LLC now owns 1,247 shares of the company’s stock worth $485,000 after acquiring an additional 155 shares in the last quarter. SHP Wealth Management acquired a new position in Trane Technologies in the fourth quarter valued at approximately $214,000. Employees Provident Fund Board purchased a new position in Trane Technologies in the fourth quarter valued at approximately $19,071,000. Caitong International Asset Management Co. Ltd acquired a new stake in Trane Technologies during the fourth quarter worth approximately $232,000. Finally, Reflection Asset Management purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $139,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of TT opened at $445.20 on Thursday. The firm has a 50-day simple moving average of $421.28 and a two-hundred day simple moving average of $417.04. 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 1-year low of $298.15 and a 1-year high of $479.37. The stock has a market cap of $98.54 billion, a PE ratio of 34.30, a P/E/G ratio of 2.35 and a beta of 1.19.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is 28.97%.

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.