Trane Technologies plc (NYSE:TT) Receives $509.12 Average Price Target from Analysts

Shares of Trane Technologies plc (NYSE:TT) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $512.1875.

Several analysts have weighed in on TT shares. Barclays lifted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane began coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Evercore assumed coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, KeyCorp lifted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TT. Wilkerson Advisory Group LLC increased its stake in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at about $25,000. JPL Wealth Management LLC bought a new position in Trane Technologies in the third quarter valued at about $32,000. Physician Wealth Advisors Inc. grew its position in Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in Trane Technologies during the first quarter worth about $33,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

TT opened at $476.64 on Wednesday. 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 fifty day simple moving average of $470.52 and a 200 day simple moving average of $442.56. Trane Technologies has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a market capitalization of $105.36 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.45 EPS. Research analysts expect that Trane Technologies will post 14.9 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is currently 32.48%.

About Trane Technologies

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.