Trane Technologies plc (NYSE:TT) Given Average Rating of “Moderate Buy” by Brokerages

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

A number of research analysts have issued reports on the stock. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. UBS Group lowered their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Citigroup increased 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. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st.

Trane Technologies Price Performance

NYSE TT opened at $455.35 on Friday. The firm’s fifty day simple moving average is $398.25 and its two-hundred day simple moving average is $414.57. The firm has a market capitalization of $100.97 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.39 and a beta of 1.21. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies has a 12-month low of $298.15 and a 12-month high of $476.18.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the firm earned $2.61 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts forecast that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio is 28.97%.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ethic Inc. lifted its position in Trane Technologies by 6.6% during the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after acquiring an additional 1,672 shares during the period. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.4% during the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Trane Technologies during the third quarter worth $6,571,000. Boston Common Asset Management LLC purchased a new position in Trane Technologies in the 3rd quarter valued at $9,546,000. Finally, Compass Wealth Management LLC increased its stake in Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after buying an additional 26,498 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

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.