Trane Technologies plc (NYSE:TT) Given Average Rating of "Hold … – MarketBeat
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Trane Technologies plc (NYSE:TT – Get Rating) has received an average recommendation of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $172.17.
A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $116.00 to $126.00 and gave the stock an “underweight” rating in a research note on Thursday, November 3rd. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. Royal Bank of Canada raised their price target on shares of Trane Technologies from $155.00 to $162.00 and gave the company a “sector perform” rating in a report on Thursday, November 3rd. Bank of America lowered shares of Trane Technologies from a “neutral” rating to an “underperform” rating and set a $160.00 target price on the stock. in a research note on Monday, December 12th. Finally, Argus raised their price target on shares of Trane Technologies from $170.00 to $185.00 in a research report on Tuesday, November 8th.
Trane Technologies Stock Performance
Shares of Trane Technologies stock opened at $168.09 on Tuesday. The firm has a market cap of $38.71 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The firm’s 50-day simple moving average is $171.13 and its 200-day simple moving average is $155.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.78 and a current ratio of 1.14. Trane Technologies has a 1 year low of $120.64 and a 1 year high of $202.85.
Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.15. Trane Technologies had a net margin of 10.56% and a return on equity of 27.32%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.16 billion. Equities analysts forecast that Trane Technologies will post 7.17 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 2nd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, December 1st. Trane Technologies’s dividend payout ratio is currently 38.73%.
Insider Activity at Trane Technologies
In other news, SVP Mairead Magner sold 1,000 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the senior vice president now directly owns 11,079 shares of the company’s stock, valued at $1,772,640. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Mairead Magner sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the transaction, the senior vice president now owns 11,079 shares of the company’s stock, valued at $1,772,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 14,651 shares of Trane Technologies stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $179.00, for a total value of $2,622,529.00. Following the sale, the chief executive officer now directly owns 95,751 shares in the company, valued at approximately $17,139,429. The disclosure for this sale can be found here. Insiders sold a total of 16,651 shares of company stock worth $2,947,529 over the last quarter. 0.74% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Trane Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of TT. JPMorgan Chase & Co. grew its stake in Trane Technologies by 2.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 20,163,515 shares of the company’s stock valued at $2,618,635,000 after purchasing an additional 409,850 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.3% during the third quarter. Vanguard Group Inc. now owns 18,490,139 shares of the company’s stock valued at $2,677,558,000 after acquiring an additional 61,456 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Trane Technologies by 48.2% in the third quarter. Bank of New York Mellon Corp now owns 5,366,040 shares of the company’s stock valued at $777,057,000 after purchasing an additional 1,745,741 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Trane Technologies by 56.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,790,429 shares of the company’s stock valued at $549,178,000 after purchasing an additional 1,368,481 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Trane Technologies by 4.4% in the third quarter. Nuveen Asset Management LLC now owns 2,863,785 shares of the company’s stock valued at $414,704,000 after purchasing an additional 119,444 shares during the last quarter. 81.47% of the stock is owned by institutional investors.
Trane Technologies Company Profile
(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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