Brokerages Set Trane Technologies plc (NYSE:TT) Target Price at $413.69

Trane Technologies plc (NYSE:TT) has earned a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $413.69.

A number of research firms have recently issued reports on TT. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Northcoast Research began coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. UBS Group dropped their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,318 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is owned by insiders.

Institutional Trading of Trane Technologies

Hedge funds have recently made changes to their positions in the business. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $26,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Trane Technologies during the fourth quarter worth approximately $28,000. Finally, Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $351.46 on Thursday. The firm has a market cap of $78.83 billion, a PE ratio of 31.24, a PEG ratio of 2.50 and a beta of 1.08. The firm has a fifty day moving average of $364.02 and a 200 day moving average of $380.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies has a one year low of $286.32 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts predict that Trane Technologies will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 33.42%.

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.