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

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

Analysts Set New Price Targets

Several equities analysts recently commented on TT shares. Stephens upped their target price on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Citigroup boosted their price target on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays boosted their price target on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $300.54.

Trane Technologies Price Performance

The company has a 50-day moving average price of $298.38 and a two-hundred day moving average price of $261.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The company 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.

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

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, June 7th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity at Trane Technologies

In related news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares of the company’s stock, valued at $24,449,442.98. 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, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the sale, the senior vice president now owns 20,729 shares in the company, valued at $5,976,792.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,254 shares of company stock valued at $7,484,643. Insiders own 0.39% of the company’s stock.

Institutional Trading of Trane Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Socha Financial Group LLC acquired a new stake in shares of Trane Technologies during the 1st quarter worth approximately $337,000. Great Lakes Retirement Inc. boosted its stake in shares of Trane Technologies by 850.0% during the 1st quarter. Great Lakes Retirement Inc. now owns 14,516 shares of the company’s stock worth $4,358,000 after acquiring an additional 12,988 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Trane Technologies by 2.3% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock worth $528,000 after acquiring an additional 39 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Trane Technologies by 12.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 10,904 shares of the company’s stock worth $3,274,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Trane Technologies by 1.6% in the first quarter. Blair William & Co. IL now owns 17,261 shares of the company’s stock valued at $5,182,000 after purchasing an additional 265 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Trane Technologies

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.