Trane Technologies plc (NYSE:TT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Trane Technologies has received a consensus rating of "Hold" from 16 brokerages, with one sell rating, ten hold ratings, and five buy ratings.
• The company reported earnings per share of $3.88 for the last quarter, exceeding analyst expectations of $3.79.
• Trane Technologies announced a quarterly dividend of $0.94 per share, to be paid on September 30th, representing an annualized dividend yield of 0.9%.

Trane Technologies plc (NYSE:TT - Get Free Report) has received a consensus rating of "Hold" from the sixteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $458.60.

A number of brokerages recently commented on TT. Morgan Stanley raised their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup raised their target price on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Robert W. Baird raised their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st.

Trane Technologies Stock Performance

NYSE TT opened at $430.09 on Friday. The stock has a market cap of $95.70 billion, a PE ratio of 34.11, a P/E/G ratio of 2.68 and a beta of 1.09. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Trane Technologies has a twelve month low of $298.15 and a twelve month high of $476.18. The stock has a fifty day simple moving average of $435.42 and a 200-day simple moving average of $389.90.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The company's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.30 EPS. Equities analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is 29.82%.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. WFA Asset Management Corp grew its stake in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Trane Technologies during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. purchased a new position in Trane Technologies during the 2nd quarter worth approximately $28,000. Finally, Hantz Financial Services Inc. grew its stake in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company's stock worth $29,000 after buying an additional 61 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.

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