Trane Technologies plc (NYSE:TT) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Trane Technologies has a consensus analyst rating of “Moderate Buy” from 18 firms, with an average 1-year price target of about $505.56.
• The company beat first-quarter expectations, reporting $2.63 EPS on $4.97 billion in revenue, both above analyst estimates, while revenue rose 6.0% year over year.
• Trane Technologies also announced a quarterly dividend of $1.05 per share, implying an annualized payout of $4.20 and a dividend yield of about 0.9%.

Trane Technologies plc (NYSE:TT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $505.5625.

A number of research firms have recently commented on TT. Citigroup raised their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Morgan Stanley cut their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an "overweight" rating for the company in a research report on Tuesday, January 13th. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a research report on Friday, January 30th. Evercore began coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. Finally, Barclays raised their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research report on Friday, May 1st.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $476.26 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $105.28 billion, a PE ratio of 36.83, a P/E/G ratio of 2.15 and a beta of 1.25. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a 50-day moving average price of $448.82 and a two-hundred day moving average price of $427.40.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.45 earnings per share. Equities analysts forecast that Trane Technologies will post 14.87 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's dividend payout ratio (DPR) is 32.48%.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction that occurred on 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 trade represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock valued at $23,269,523 over the last ninety days. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Hedge funds have recently bought and sold shares of the stock. Tucker Asset Management LLC bought a new stake in Trane Technologies during the fourth quarter valued at approximately $25,000. Wilkerson Advisory Group LLC lifted its position in Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. United Community Bank lifted its position in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after purchasing an additional 43 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in Trane Technologies during the fourth quarter valued at approximately $32,000. Finally, JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter valued at approximately $32,000. 82.97% of the stock is currently owned by institutional investors.

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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