Trane Technologies (NYSE:TT) Sets New 1-Year High at $307.30

Trane Technologies plc (NYSE:TT) reached a new 52-week high on Monday . The company traded as high as $307.30 and last traded at $305.73, with a volume of 99599 shares trading hands. The stock had previously closed at $304.53.

Analyst Ratings Changes

TT has been the subject of a number of analyst reports. Barclays raised their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their price target on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Royal Bank of Canada upped their price target on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Stephens lifted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Finally, Citigroup upped their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Stock Performance

The stock has a 50 day moving average price of $293.61 and a two-hundred day moving average price of $256.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a market capitalization of $72.06 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company posted $1.82 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is 38.23%.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at $17,673,237.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock valued at $8,462,825. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Institutional investors have recently modified their holdings of the stock. BKM Wealth Management LLC acquired a new position in Trane Technologies during the fourth quarter valued at approximately $25,000. Motco bought a new position in shares of Trane Technologies during the fourth quarter worth $27,000. Sachetta LLC acquired a new position in shares of Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC increased its position in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $27,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Company Profile

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.