Shares of Trane Technologies plc (NYSE:TT – Get Rating) earned a consensus recommendation of “Hold” from the fifteen rating agencies that cover the company, reports MarketBeat.com. One financial analyst rated the stock with a sell recommendation, six gave the company a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among brokerages that have issued ratings on the stock over the past year is $185.07.
Several research analysts have published reports on TT shares. Deutsche Bank Aktiengesellschaft lowered its price target on Trane Technologies from $171.00 to $162.00 in a Thursday, May 5 research note. Barclays lowered its price target on Trane Technologies from $205.00 to $180.00 in a Thursday May 5 report. Goldman Sachs Group cut its price target on Trane Technologies from $180.00 to $157.00 and set a “neutral” rating on the stock in a Thursday, April 7 research report. Wolfe Research cut its price target on Trane Technologies from $210.00 to $202.00 and set a “peer performance” rating on the stock in a Tuesday, Feb. 1 research report. Finally, Credit Suisse Group reduced its price target on Trane Technologies from $194.00 to $178.00 in a Thursday, May 5 research report.
Hedge funds have recently increased or reduced their holdings in the stock. CastleArk Alternatives LLC bought a new position in Trane Technologies in Q3 worth $422,000. First Republic Investment Management Inc. increased its equity stake in Trane Technologies by 2.0% during the third quarter. First Republic Investment Management Inc. now owns 57,716 shares of the company valued at $9,965,000 after buying 1,139 additional shares in the last quarter. Impax Asset Management Group plc increased its stake in Trane Technologies shares by 8.6% in the third quarter. Impax Asset Management Group plc now owns 1,675,982 shares in the company valued at $289,358,000 after acquiring an additional 132,556 shares in the last quarter. The Bank of Nova Scotia increased its holdings of Trane Technologies shares by 5,341.4% in Q3. The Bank of Nova Scotia now owns 351,191 shares of the company valued at $60,634,000 after acquiring an additional 344,737 shares in the last quarter. Finally, TrinityPoint Wealth LLC increased its position in Trane Technologies by 6.1% in the 3rd quarter. TrinityPoint Wealth LLC now owns 8,466 shares of the company worth $1,462,000 after purchasing an additional 490 shares during the period. 80.55% of the shares are currently held by institutional investors and hedge funds.
Shares of Trane Technologies opened at $130.72 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt ratio of 0.75. The company’s 50-day moving average price is $146.96 and its two-hundred-day moving average price is $167.63. Trane Technologies has a 52 week low of $128.13 and a 52 week high of $207.06. The stock has a market capitalization of $30.57 billion, a PE ratio of 21.75, a price-to-growth earnings ratio of 1.65 and a beta of 1.03.
Trane Technologies (NYSE:TT – Get Rating) last reported results on Wednesday, May 4. The company reported earnings per share of $1.12 for the quarter, beating consensus analyst estimates of $1.00 by $0.12. The company posted revenue of $3.36 billion for the quarter, versus a consensus estimate of $3.15 billion. Trane Technologies achieved a return on equity of 23.67% and a net margin of 10.01%. The company’s quarterly revenue increased 11.2% year over year. In the same quarter of the previous year, the company achieved EPS of $1.01. On average, stock analysts predict that Trane Technologies will post an EPS of 7.06 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Friday, June 3 will receive a dividend of $0.67. The ex-dividend date is Thursday, June 2. This represents a dividend of $2.68 on an annualized basis and a dividend yield of 2.05%. Trane Technologies’ dividend payout ratio is currently 44.59%.
About Trane Technologies (Get an assessment)
Trane Technologies plc, together with its subsidiaries, is engaged in the design, manufacture, sale and service of solutions for transport heating, ventilation, air conditioning and refrigeration. It offers air conditioners, exchangers and manipulators; airside devices and terminals; auxiliary power units; coolers; coils and condensers; generators ; ovens; heat pumps; home automation products; humidifiers; hybrid and diesel-free transport refrigeration and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unit products; engine replacements; refrigerant recovery products; thermostats/controls; transportation heating products; variable refrigerant flow products; and water source heat pumps.
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