Trane Technologies plc (NYSE:TT) Receives Average Rating of “Hold” from Analysts

Posted by on May 23rd, 2022

Shares of Trane Technologies plc (NYSE:TT – Get Rating) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $185.07.

TT has been the subject of a number of analyst reports. Citigroup dropped their target price on shares of Trane Technologies from $205.00 to $190.00 in a report on Thursday, May 5th. Credit Suisse Group dropped their target price on shares of Trane Technologies from $194.00 to $178.00 in a report on Thursday, May 5th. Wolfe Research dropped their target price on shares of Trane Technologies from $210.00 to $202.00 and set a “peer perform” rating for the company in a report on Tuesday, February 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Trane Technologies from $171.00 to $162.00 in a report on Thursday, May 5th. Finally, Mizuho lowered their price objective on shares of Trane Technologies from $205.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, February 1st.

Shares of TT stock opened at $130.72 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.31. Trane Technologies has a 52-week low of $128.13 and a 52-week high of $207.06. The company has a market capitalization of $30.57 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03. The business’s fifty day moving average is $146.96 and its 200 day moving average is $167.63.

Trane Technologies (NYSE:TT – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.15 billion. Trane Technologies had a return on equity of 23.67% and a net margin of 10.01%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. On average, sell-side analysts forecast that Trane Technologies will post 7.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, June 2nd. Trane Technologies’s payout ratio is 44.59%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its holdings in shares of Trane Technologies by 4.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,447 shares of the company’s stock worth $250,000 after buying an additional 56 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in Trane Technologies by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,401 shares of the company’s stock valued at $889,000 after purchasing an additional 59 shares during the last quarter. OLD Second National Bank of Aurora grew its holdings in Trane Technologies by 15.4% during the 4th quarter. OLD Second National Bank of Aurora now owns 450 shares of the company’s stock valued at $65,000 after purchasing an additional 60 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Trane Technologies by 1.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,847 shares of the company’s stock valued at $777,000 after purchasing an additional 61 shares during the last quarter. Finally, ARGI Investment Services LLC grew its holdings in Trane Technologies by 2.7% during the 4th quarter. ARGI Investment Services LLC now owns 2,414 shares of the company’s stock valued at $488,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 80.55% of the company’s stock.

About Trane Technologies (Get Rating)

Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Analyst Recommendations for Trane Technologies (NYSE:TT)

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