Trane Technologies plc (NYSE:TT) Receives $343.54 Consensus Target Price from Brokerages

Trane Technologies plc (NYSE:TT) has received an average rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $343.54.

A number of equities research analysts have commented on the company. Stephens reiterated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Barclays boosted their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. Finally, UBS Group raised their price target on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd.

Insider Buying and Selling

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently modified their holdings of the company. PFG Private Wealth Management LLC raised its holdings in shares of Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Trane Technologies by 1.7% during the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after acquiring an additional 34 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in shares of Trane Technologies by 26.5% in the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after acquiring an additional 35 shares during the last quarter. Muirfield Wealth Advisors LLC raised its position in shares of Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after purchasing an additional 37 shares during the period. Finally, Pure Financial Advisors LLC lifted its holdings in shares of Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after purchasing an additional 38 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.7 %

TT stock opened at $387.53 on Thursday. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $389.53. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a market cap of $87.72 billion, a P/E ratio of 41.40, a P/E/G ratio of 2.45 and a beta of 1.01. The company’s 50-day moving average price is $345.70 and its 200 day moving average price is $326.72.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. On average, research analysts expect that Trane Technologies will post 10.87 earnings per share for the current fiscal year.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.