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

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

Analyst Ratings Changes

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

Trane Technologies Trading Up 0.1 %

The firm has a fifty day moving average price of $292.22 and a 200-day moving average price of $254.87. The company has a market capitalization of $69.24 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

Insider Activity

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of the 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 completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul A. Camuti sold 5,643 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the sale, the executive vice president now directly owns 88,770 shares in the company, valued at $25,592,391. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock valued at $8,462,825 in the last 90 days. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Tenon Financial LLC purchased a new stake in Trane Technologies during the 1st quarter worth about $1,356,000. Pinnacle Associates Ltd. lifted its holdings in shares of Trane Technologies by 7.8% in the first quarter. Pinnacle Associates Ltd. now owns 11,180 shares of the company’s stock valued at $3,356,000 after buying an additional 806 shares during the period. Sterling Investment Counsel LLC lifted its holdings in shares of Trane Technologies by 11.9% during the first quarter. Sterling Investment Counsel LLC now owns 1,218 shares of the company’s stock valued at $366,000 after purchasing an additional 130 shares during the last quarter. UMB Bank n.a. boosted its stake in Trane Technologies by 238.9% during the 1st quarter. UMB Bank n.a. now owns 305 shares of the company’s stock valued at $92,000 after purchasing an additional 215 shares during the period. Finally, LifeSteps Financial Inc. bought a new stake in shares of Trane Technologies in the 1st quarter worth approximately $80,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.