Trane Technologies plc (NYSE:TT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Trane Technologies has an average analyst rating of “Moderate Buy” from 18 analysts, with an average 1-year target price of about $506.56.
• The company reported better-than-expected quarterly results, posting EPS of $2.63 versus the $2.53 estimate and revenue of $4.97 billion, up 6% year over year.
• Trane also announced a quarterly dividend of $1.05 per share, equal to an annualized payout of $4.20 and a yield of about 0.9%.

Trane Technologies plc (NYSE:TT - Get Free Report) has received an average rating of "Moderate Buy" from the eighteen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $506.5625.

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective for the company. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was 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 of the company's stock, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company's stock, valued at approximately $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. 0.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TT. Tucker Asset Management LLC bought a new stake in Trane Technologies in the fourth quarter valued at $25,000. Wilkerson Advisory Group LLC boosted its stake in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $32,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the 3rd quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 1.6%

TT opened at $456.51 on Friday. Trane Technologies has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $100.91 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 2.14 and a beta of 1.20. The business has a 50 day moving average of $458.85 and a 200-day moving average of $431.33.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. During the same period in the prior year, the business earned $2.45 earnings per share. Trane Technologies's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trane Technologies will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies's dividend payout ratio (DPR) is 32.48%.

Trane Technologies Company Profile

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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