Trane Technologies plc (NYSE:TT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Moderate Buy consensus from 19 brokerages (11 buys, 6 holds, 1 sell, 1 strong buy) with an average 12‑month price target of $491.47 for Trane Technologies.
• Significant insider selling: CFO Christopher Kuehn sold 8,619 shares (~$3.88M) under a 10b5‑1 plan and insiders sold 57,997 shares worth $25.1M in the last quarter, leaving insiders with 0.14% ownership.
• Q4 beat and dividend: Trane reported $2.86 EPS vs. $2.81 expected and $5.14B revenue (up 5.6% YoY), and announced a $1.05 quarterly dividend ($4.20 annual, ~0.9% yield).

Trane Technologies plc (NYSE:TT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $491.4706.

TT has been the subject of several research analyst reports. BNP Paribas Exane began coverage on Trane Technologies in a report on Tuesday. They issued an "outperform" rating and a $550.00 price objective for the company. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $434.00 to $460.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price target on the stock in a report on Wednesday, January 7th. Finally, Morgan Stanley lowered their price objective on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 13th.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The shares were 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 of the company's stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,997 shares of company stock worth $25,107,014 in the last quarter. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Institutional investors have recently modified their holdings of the stock. Fiduciary Family Office LLC lifted its position in Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock worth $612,000 after buying an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC grew its position in Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock valued at $93,000 after acquiring an additional 23 shares during the last quarter. Old Port Advisors increased its stake in Trane Technologies by 3.2% in the 3rd quarter. Old Port Advisors now owns 778 shares of the company's stock worth $328,000 after buying an additional 24 shares during the period. OneAscent Wealth Management LLC increased its position in shares of Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock worth $686,000 after acquiring an additional 24 shares during the period. Finally, Bridgewater Advisors Inc. increased its holdings in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company's stock worth $285,000 after purchasing an additional 24 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Down 0.4%

Shares of NYSE:TT opened at $460.57 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies has a 1 year low of $318.08 and a 1 year high of $479.37. The company has a market cap of $101.94 billion, a P/E ratio of 35.48, a PEG ratio of 2.44 and a beta of 1.21. The stock's fifty day moving average price is $443.55 and its 200-day moving average price is $421.15.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the firm earned $2.61 EPS. Trane Technologies's revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's payout ratio is 32.36%.

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.

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