Brokerages Set Trane Technologies plc (NYSE:TT) Price Target at $421.07

Shares of Trane Technologies plc (NYSE:TT - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $421.07.

A number of equities research analysts have recently weighed in on TT shares. Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a research report on Thursday. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank of Canada raised their price target on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, Melius lowered Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th.

Trane Technologies Stock Up 0.8 %

TT traded up $3.27 during trading on Friday, reaching $402.86. 1,036,849 shares of the stock traded hands, compared to its average volume of 1,632,597. The stock's 50-day simple moving average is $344.26 and its two-hundred day simple moving average is $371.85. Trane Technologies has a fifty-two week low of $298.15 and a fifty-two week high of $422.00. The stock has a market cap of $89.84 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 EPS. As a group, equities research analysts expect that Trane Technologies will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 0.93%. Trane Technologies's payout ratio is 31.28%.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares of the company's stock, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,805 shares of company stock valued at $3,945,082 in the last three months. Company insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its holdings in Trane Technologies by 1.1% in the first quarter. Los Angeles Capital Management LLC now owns 573,024 shares of the company's stock valued at $193,063,000 after purchasing an additional 6,131 shares during the period. Wealth Alliance LLC boosted its stake in shares of Trane Technologies by 22.1% in the first quarter. Wealth Alliance LLC now owns 3,026 shares of the company's stock valued at $1,020,000 after buying an additional 548 shares in the last quarter. Bingham Private Wealth LLC increased its holdings in Trane Technologies by 3.2% in the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after buying an additional 29 shares in the last quarter. Meridian Wealth Advisors LLC boosted its position in shares of Trane Technologies by 0.5% in the 1st quarter. Meridian Wealth Advisors LLC now owns 22,490 shares of the company's stock worth $7,577,000 after buying an additional 122 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Trane Technologies by 6.9% in the first quarter. Lindbrook Capital LLC now owns 2,338 shares of the company's stock worth $788,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

About Trane Technologies

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.