Trane Technologies plc (NYSE:TT) Receives $300.54 Consensus Target Price from Analysts

Shares of Trane Technologies plc (NYSE:TT) have received an average rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $300.54.

A number of equities analysts recently commented on the company. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. TD Cowen increased their price target on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird raised their price objective on Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul A. Camuti sold 5,643 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.30, for a total value of $1,626,876.90. Following the transaction, the executive vice president now owns 88,770 shares in the company, valued at $25,592,391. The disclosure for this sale can be found here. In the last three months, insiders sold 22,979 shares of company stock valued at $6,603,372. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GoalVest Advisory LLC increased its holdings in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Trane Technologies in the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Trane Technologies in the 1st quarter valued at $30,000. BKM Wealth Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $25,000. Finally, Sachetta LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $332.92 on Friday. The stock has a 50 day moving average of $308.24 and a 200 day moving average of $271.00. Trane Technologies has a 12 month low of $162.04 and a 12 month high of $336.66. The firm has a market cap of $75.36 billion, a PE ratio of 35.57, a PEG ratio of 2.67 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. On average, research analysts expect that Trane Technologies will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 7th. Trane Technologies’s dividend payout ratio is currently 35.90%.

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.