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

Shares of Trane Technologies plc (NYSE:TT) have earned a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $509.1176.

A number of equities research analysts have issued reports on TT shares. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th.

Trane Technologies Trading Down 4.4%

NYSE:TT opened at $449.96 on Friday. Trane Technologies has a 12-month low of $348.06 and a 12-month high of $503.47. The firm has a market capitalization of $99.46 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.17 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The business has a 50 day simple moving average of $462.00 and a 200 day simple moving average of $432.62.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $2.45 earnings per share. Equities research analysts predict that Trane Technologies will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The firm 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 dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC lifted its holdings in shares of Trane Technologies by 169.8% in the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after buying an additional 9,276 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after buying an additional 72,998 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after buying an additional 2,917 shares during the period. Varma Mutual Pension Insurance Co lifted its holdings in shares of Trane Technologies by 9.0% in the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock valued at $18,486,000 after buying an additional 3,600 shares during the period. Finally, Dara Capital US Inc. acquired a new stake in shares of Trane Technologies in the fourth quarter valued at $966,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.