Trane Technologies plc (NYSE:TT) Given Average Rating of “Hold” by Analysts

Posted by on Jun 17th, 2022

Shares of Trane Technologies plc (NYSE:TT – Get Rating) have been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $178.71.

Several equities research analysts have commented on TT shares. Morgan Stanley cut their target price on Trane Technologies from $169.00 to $155.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 31st. Citigroup dropped their price objective on Trane Technologies from $205.00 to $190.00 in a research note on Thursday, May 5th. The Goldman Sachs Group dropped their price objective on Trane Technologies from $180.00 to $157.00 and set a “neutral” rating on the stock in a research note on Thursday, April 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Trane Technologies from $171.00 to $162.00 in a research note on Thursday, May 5th. Finally, Wells Fargo & Company dropped their price objective on Trane Technologies from $153.00 to $131.00 in a research note on Monday, May 9th.

Shares of TT opened at $121.93 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.31. The stock has a 50 day simple moving average of $138.90 and a 200 day simple moving average of $160.31. Trane Technologies has a 52-week low of $121.09 and a 52-week high of $207.06. The firm has a market capitalization of $28.51 billion, a PE ratio of 20.29, a P/E/G ratio of 1.64 and a beta of 1.04.

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, beating the consensus estimate of $1.00 by $0.12. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.15 billion. Trane Technologies had a return on equity of 23.67% and a net margin of 10.01%. Trane Technologies’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Equities research analysts predict that Trane Technologies will post 7.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, September 1st. Trane Technologies’s dividend payout ratio (DPR) is currently 44.59%.

Hedge funds have recently made changes to their positions in the stock. Canton Hathaway LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $25,000. Arlington Partners LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $25,000. Herold Advisors Inc. bought a new stake in shares of Trane Technologies during the 1st quarter worth $31,000. Riverview Trust Co bought a new position in Trane Technologies in the first quarter valued at about $32,000. Finally, 1832 Asset Management L.P. bought a new position in Trane Technologies in the first quarter valued at about $34,000. Institutional investors and hedge funds 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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