Brokerages Set Trane Technologies plc (NYSE:TT) PT at $427.47

Shares of Trane Technologies plc (NYSE:TT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the sixteen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $427.47.

A number of research firms recently commented on TT. Citigroup increased their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Royal Bank of Canada increased their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company increased their price objective on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st.

Trane Technologies Price Performance

NYSE TT traded down $2.12 during trading hours on Tuesday, reaching $430.17. 2,264,866 shares of the company's stock were exchanged, compared to its average volume of 1,355,140. The stock has a market cap of $95.94 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Trane Technologies has a one year low of $298.15 and a one year high of $436.61. The firm has a fifty day moving average of $373.99 and a 200-day moving average of $375.76. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Trane Technologies's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 EPS. On average, equities research analysts predict that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TT. WFA Asset Management Corp lifted its holdings in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in Trane Technologies during the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies during the fourth quarter worth about $28,000. Saudi Central Bank bought a new position in Trane Technologies during the first quarter worth about $30,000. Finally, Opal Wealth Advisors LLC bought a new position in Trane Technologies during the first quarter worth about $31,000. 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.