Trane Technologies plc (NYSE:TT) Receives Average Recommendation of "Hold" from Brokerages – MarketBeat
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Trane Technologies plc (NYSE:TT – Get Rating) has received a consensus rating of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $170.13.
TT has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on Trane Technologies from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on Trane Technologies from $132.00 to $151.00 and gave the stock a “neutral” rating in a research note on Thursday. Cowen raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research note on Friday, July 8th. Morgan Stanley increased their price objective on Trane Technologies from $153.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Cowen raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research note on Friday, July 8th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC bought a new stake in Trane Technologies during the 4th quarter valued at approximately $482,000. Keybank National Association OH lifted its holdings in shares of Trane Technologies by 8.1% during the fourth quarter. Keybank National Association OH now owns 31,545 shares of the company’s stock valued at $6,373,000 after purchasing an additional 2,356 shares during the last quarter. Peterson Wealth Services lifted its holdings in shares of Trane Technologies by 21.5% during the first quarter. Peterson Wealth Services now owns 1,431 shares of the company’s stock valued at $219,000 after purchasing an additional 253 shares during the last quarter. BOKF NA raised its holdings in Trane Technologies by 1.1% in the 4th quarter. BOKF NA now owns 10,583 shares of the company’s stock worth $2,138,000 after acquiring an additional 118 shares during the last quarter. Finally, Summit Financial LLC raised its holdings in Trane Technologies by 7.3% in the 4th quarter. Summit Financial LLC now owns 1,671 shares of the company’s stock worth $338,000 after acquiring an additional 113 shares during the last quarter. 80.55% of the stock is owned by institutional investors.
Trane Technologies Trading Down 0.3 %
NYSE TT opened at $154.34 on Friday. The business’s 50-day moving average price is $134.28 and its two-hundred day moving average price is $145.21. Trane Technologies has a 12 month low of $120.64 and a 12 month high of $204.23. The firm 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. The company has a current ratio of 1.09, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66.
Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.06. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a return on equity of 25.03% and a net margin of 10.06%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. On average, analysts expect that Trane Technologies will post 7.08 EPS 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 given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $2.68 dividend on an annualized basis and a yield of 1.74%. Trane Technologies’s payout ratio is 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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