Stocks of Trane Technologies plc (NYSE:TT) traded higher last session on Wall Street, up 1.82% to $170.43.
According to the data, Trane Technologies plc (NYSE:TT) has 24 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $209.00 and a low of $126.00, we find $170.00. Given the previous closing price of $167.38, this indicates a potential upside of 1.57 percent. TT stock price is now 1.11% away from the 50-day moving average and 12.77% away from the 200-day moving average. The market capitalization of the company currently stands at $39.10B.
A total of 14 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $171.32 as their price target over the next twelve months.
With the price target maintained at $180, BMO Capital Markets recently Downgraded its rating from Outperform to Market Perform for Trane Technologies plc (NYSE: TT). On December 12, 2022, BofA Securities Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $160, while ‘Cowen’ rates the stock as ‘Outperform’.
In other news, Regnery David S, Chair and CEO sold 14,651 shares of the company’s stock on Nov 25. The stock was sold for $2,622,533 at an average price of $179.00. Upon completion of the transaction, the Chair and CEO now directly owns 95,751 shares in the company, valued at $16.32 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 10, Senior Vice President Turtz Evan M sold 2,135 shares of the business’s stock. A total of $373,625 was realized by selling the stock at an average price of $175.00. This leaves the insider owning 18,411 shares of the company worth $3.14 million. Insiders disposed of 95,543 shares of company stock worth roughly $16.28 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TT stock. A new stake in Trane Technologies plc shares was purchased by PALESTRA CAPITAL MANAGEMENT LLC during the first quarter worth $81,772,000. JUNTO CAPITAL MANAGEMENT LP invested $58,561,000 in shares of TT during the first quarter. In the first quarter, CEREDEX VALUE ADVISORS LLC acquired a new stake in Trane Technologies plc valued at approximately $52,024,000. ANCHOR CAPITAL ADVISORS LLC acquired a new stake in TT for approximately $39,530,000. SATURNA CAPITAL CORP purchased a new stake in TT valued at around $34,365,000 in the second quarter. In total, there are 1,326 active investors with 88.40% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $168.82 for Trane Technologies plc (NYSE: TT). During the past 12 months, Trane Technologies plc has had a low of $120.64 and a high of $203.34. As of last week, the company has a debt-to-equity ratio of 0.83, a current ratio of 1.10, and a quick ratio of 0.80. The fifty day moving average price for TT is $168.56 and a two-hundred day moving average price translates $151.13 for the stock.
The latest earnings results from Trane Technologies plc (NYSE: TT) was released for Jun, 2022. According to the Specialty Industrial Machinery Company, earnings per share came in at $2.16, beating analysts’ expectations of $2.11 by 0.05. This compares to -$0.05 EPS in the same period last year. The net profit margin was 10.60% and return on equity was 27.40% for TT. The company reported revenue of $4.37 billion for the quarter, compared to $3.72 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.53 percent. For the current quarter, analysts expect TT to generate $4.15B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/02/2022 were paid a $0.67 dividend. On an annualized basis, this represents a $2.68 dividend and a 1.57% percent yield. There was an ex-dividend date of 12/01/2022 for this dividend. In terms of dividend payout ratio, TT is presently at 27.60%.
Trane Technologies plc(TT) Company Profile
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. The company also provides building management, control, ductless, geothermal, package heating and cooling, temporary heating and cooling, and unitary systems; bus, rail, and multi-pipe heating, ventilation, and air conditioning systems; and container, cryogenic, diesel-powered, electric-powered trailer and truck, hybrid-powered trailer, industrial, rail, self-powered truck, trailer, and vehicle-powered truck refrigeration systems, as well as aftermarket and OEM parts and supplies. In addition, it offers energy and facility management, installation and performance contracting, repair and maintenance, and rental services. It markets and sells its products under the Trane and Thermo King brands through sales offices, distributors, and dealers in the United States; and through sales and service companies with a supporting chain of distributors worldwide. The company was formerly known as Ingersoll-Rand Plc and changed its name to Trane Technologies plc in March 2020. Trane Technologies plc was founded in 1885 and is headquartered in Swords, Ireland.