Trane Technologies plc (NYSE:TT) Receives Average Rating of “Hold” from Analysts

Shares of Trane Technologies plc (NYSE:TT) have been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $417.81.

Several analysts have commented on the company. Melius Research reissued a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Robert W. Baird decreased their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their target price on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates purchased a new stake in Trane Technologies in the fourth quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the third quarter valued at $27,000. DT Investment Partners LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at $36,000. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Trane Technologies in the second quarter valued at $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.6 %

Shares of TT opened at $365.41 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies has a 12 month low of $250.77 and a 12 month high of $422.00. The stock’s 50 day moving average is $393.50 and its two-hundred day moving average is $376.20. The firm has a market cap of $82.23 billion, a P/E ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $2.79 earnings per share. Trane Technologies’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts predict that Trane Technologies will post 11.16 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.