Analysts Set Trane Technologies plc (NYSE:TT) Price Target at $409.93

Trane Technologies plc (NYSE:TT) has been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $413.14.

A number of equities research analysts have weighed in on TT shares. Morgan Stanley initiated coverage on Trane Technologies in a research report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Wells Fargo & Company boosted their target price on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Citigroup lifted their price target on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Mizuho upped their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Northcoast Research assumed coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies during the 3rd quarter valued at $27,000. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the fourth quarter valued at $26,000. DT Investment Partners LLC bought a new stake in Trane Technologies in the 3rd quarter worth about $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies during the 3rd quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $44,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock opened at $381.11 on Friday. The stock has a market cap of $85.76 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.38 and a beta of 1.03. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $396.71 and a 200 day simple moving average of $369.46. Trane Technologies has a 52 week low of $236.33 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the business earned $2.79 earnings per share. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts forecast that Trane Technologies will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th were issued a $0.84 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.88%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

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.