In yesterday’s Wall Street session, Trane Technologies plc (NYSE:TT) shares traded at $205.06, up 3.03% from the previous session.
As of this writing, 23 analysts cover Trane Technologies plc (NYSE:TT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $247.00 and a low of $160.00, we find $198.00. Given the previous closing price of $199.03, this indicates a potential downside of -0.52 percent. TT stock price is now 10.86% away from the 50-day moving average and 15.35% away from the 200-day moving average. The market capitalization of the company currently stands at $46.43B.
There are 11 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $199.18 as their price target over the next twelve months.
In other news, SULTANA KEITH A, Senior Vice President sold 3,964 shares of the company’s stock on Jul 17. The stock was sold for $784,872 at an average price of $198.00. Upon completion of the transaction, the Senior Vice President now directly owns 42,116 shares in the company, valued at $8.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 12, Executive Vice President Camuti Paul A sold 5,000 shares of the business’s stock. A total of $980,000 was realized by selling the stock at an average price of $196.00. This leaves the insider owning 89,409 shares of the company worth $18.33 million. Insiders disposed of 117,771 shares of company stock worth roughly $24.15 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 ONTARIO TEACHERS PENSION PLAN BOARD during the first quarter worth $490,436,000. MACKENZIE FINANCIAL CORP invested $265,381,000 in shares of TT during the first quarter. In the first quarter, MAGELLAN ASSET MANAGEMENT LTD acquired a new stake in Trane Technologies plc valued at approximately $263,500,000. CCLA INVESTMENT MANAGEMENT acquired a new stake in TT for approximately $103,092,000. TWINBEECH CAPITAL LP purchased a new stake in TT valued at around $30,129,000 in the second quarter.
During the past 12 months, Trane Technologies plc has had a low of $139.07 and a high of $201.84. As of last week, the company has a debt-to-equity ratio of 0.80, a current ratio of 1.30, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $49.53B, which is based on a 26.28 price-to-earnings ratio, a 2.33 price-to-earnings-growth ratio, and a beta of 1.06. The fifty day moving average price for TT is $185.61 and a two-hundred day moving average price translates $178.07 for the stock.
According to the Building Products & Equipment Company, earnings per share came in at $1.41, beating analysts’ expectations of $1.34 by 0.07. This compares to -$0.03 EPS in the same period last year. The net profit margin was 11.10% and return on equity was 30.40% for TT. The company reported revenue of $3.67 billion for the quarter, compared to $3.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.25 percent. For the current quarter, analysts expect TT to generate $4.61B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/01/2023 were paid a $0.75 dividend. On an annualized basis, this represents a $3.00 dividend and a 1.46% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, TT is presently at 35.40%.
