Trane Technologies plc (NYSE:TT) Given Average Recommendation of “Hold” by Brokerages

Shares of Trane Technologies plc (NYSE:TTGet Rating) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $170.13.

A number of equities research analysts have recently issued reports on TT shares. Citigroup boosted their price target on shares of Trane Technologies from $160.00 to $177.00 in a research note on Thursday. Cowen raised shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Friday, July 8th. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $123.00 to $133.00 and gave the company an “underweight” rating in a research note on Thursday. Barclays boosted their price target on shares of Trane Technologies from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $132.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. Crewe Advisors LLC boosted its holdings in shares of Trane Technologies by 83.9% in the 2nd quarter. Crewe Advisors LLC now owns 206 shares of the company’s stock valued at $27,000 after buying an additional 94 shares in the last quarter. Herold Advisors Inc. acquired a new position in shares of Trane Technologies in the 1st quarter valued at $31,000. Riverview Trust Co acquired a new position in shares of Trane Technologies in the 1st quarter valued at $32,000. 1832 Asset Management L.P. acquired a new position in shares of Trane Technologies in the 1st quarter valued at $34,000. Finally, Bartlett & Co. LLC acquired a new position in shares of Trane Technologies in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $154.34 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 0.91. The firm’s 50-day moving average is $134.28 and its two-hundred day moving average is $145.21. Trane Technologies has a 12 month low of $120.64 and a 12 month high of $204.23. The company has a market capitalization of $36.09 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Trane Technologies (NYSE:TTGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.06. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Trane Technologies’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that Trane Technologies will post 7.08 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders 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 yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 1st. Trane Technologies’s dividend payout ratio (DPR) is presently 42.81%.

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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