Analysts Set Trane Technologies plc (NYSE:TT) Price Target at $516.67

Shares of Trane Technologies plc (NYSE:TT) have received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $516.6667.

TT has been the topic of several research analyst reports. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. KeyCorp increased their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Finally, Citigroup increased their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new position in Trane Technologies during the second quarter valued at $227,000. Nebula Research & Development LLC grew its holdings in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after buying an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

TT stock opened at $470.66 on Friday. The stock’s 50 day simple moving average is $471.04 and its 200 day simple moving average is $451.67. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies has a 12-month low of $348.06 and a 12-month high of $505.87. The stock has a market capitalization of $104.04 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the company earned $2.45 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that Trane Technologies will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

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.