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

A number of analysts have commented on TT shares. Royal Bank of Canada upped their price target on shares of 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 raised their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group lifted their target price 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. Citigroup lifted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Stock Up 0.1 %

The stock’s 50-day moving average is $292.22 and its 200-day moving average is $254.87. The stock has a market cap 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 current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last issued 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. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 earnings per share. As a group, research analysts anticipate that Trane Technologies plc will post 10.2 earnings per share 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. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $32,589,600.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of large investors have recently modified their holdings of TT. Center for Financial Planning Inc. increased its stake in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after purchasing an additional 34 shares in the last quarter. Keel Point LLC lifted its holdings in shares of Trane Technologies by 3.0% in the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after acquiring an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after buying an additional 41 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Trane Technologies by 2.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after purchasing an additional 42 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in shares of Trane Technologies by 1.5% in the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after buying an additional 42 shares in the last quarter. Institutional investors 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.