Brokerages Set Trane Technologies plc (NYSE:TT) Price Target at $251.83

Shares of Trane Technologies plc (NYSE:TT) have received a consensus rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $251.83.

A number of research analysts have recently issued reports on TT shares. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup lifted their price objective on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays upped their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Stephens lifted their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group increased their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th.

Trane Technologies Stock Up 1.7 %

NYSE TT opened at $304.53 on Monday. Trane Technologies has a fifty-two week low of $162.04 and a fifty-two week high of $306.98. The business has a fifty day moving average price of $292.22 and a two-hundred day moving average price of $254.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock has a market capitalization of $69.15 billion, a PE ratio of 34.65, a PEG ratio of 2.57 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the business earned $1.82 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Trane Technologies will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.10%. Trane Technologies’s payout ratio is 38.23%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 over the last quarter. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Trane Technologies by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after acquiring an additional 880,583 shares during the last quarter. FMR LLC lifted its stake in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Trane Technologies by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after buying an additional 103,823 shares during the period. Morgan Stanley grew its stake in shares of Trane Technologies by 0.6% during the third quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after buying an additional 17,758 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Trane Technologies in the fourth quarter worth about $655,804,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.