Trane Technologies (NYSE:TT) Reaches New 1-Year High at $327.47

Trane Technologies plc (NYSE:TT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $327.47 and last traded at $325.33, with a volume of 52765 shares trading hands. The stock had previously closed at $325.74.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Robert W. Baird raised their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup raised their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Price Performance

The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a market cap of $75.36 billion, a PE ratio of 35.57, a P/E/G ratio of 2.54 and a beta of 1.01. The firm’s fifty day simple moving average is $298.38 and its two-hundred day simple moving average is $261.10.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies’s payout ratio is currently 35.90%.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,254 shares of company stock worth $7,484,643. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares during the period. Xponance Inc. boosted its stake in shares of Trane Technologies by 18.6% during the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock valued at $10,689,000 after purchasing an additional 6,869 shares during the period. CHICAGO TRUST Co NA boosted its stake in shares of Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after purchasing an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after purchasing an additional 42,409 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Trane Technologies by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 179,510 shares of the company’s stock worth $43,782,000 after acquiring an additional 7,874 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.