Trane Technologies plc (NYSE:TT - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $306.13 and last traded at $304.53, with a volume of 44779 shares. The stock had previously closed at $301.34.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TT. Wells Fargo & Company upped their price target on Trane Technologies from $200.00 to $246.00 and gave the stock an "underweight" rating in a report on Tuesday, December 19th. Royal Bank of Canada upped their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a report on Friday, February 2nd. Citigroup upped their price target on Trane Technologies from $246.00 to $269.00 and gave the stock a "buy" rating in a report on Monday, December 11th. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $239.92.
View Our Latest Analysis on Trane Technologies
Trane Technologies Price Performance
The stock has a market capitalization of $67.56 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.33 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. The company has a 50-day simple moving average of $281.99 and a two-hundred day simple moving average of $243.23.
Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results 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 return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.43 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 10.19 earnings per share for the current year.
Trane Technologies Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a dividend of $0.84 per share. The ex-dividend date was Thursday, February 29th. This is an increase from Trane Technologies's previous quarterly dividend of $0.75. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.13%. Trane Technologies's dividend payout ratio (DPR) is 38.23%.
Insider Activity at Trane Technologies
In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company's stock, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Paul A. Camuti sold 5,643 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $288.30, for a total value of $1,626,876.90. Following the completion of the sale, the executive vice president now owns 88,770 shares in the company, valued at $25,592,391. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the business'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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,874 shares of company stock valued at $8,462,825. Corporate insiders own 0.39% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of TT. Keel Point LLC lifted its position in shares of Trane Technologies by 3.0% in the fourth quarter. Keel Point LLC now owns 1,326 shares of the company's stock valued at $323,000 after buying an additional 39 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company's stock valued at $47,000 after purchasing an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew 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 worth $450,000 after acquiring an additional 42 shares during the last quarter. Level Four Advisory Services LLC grew its position in Trane Technologies by 1.5% during the 4th quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company's stock worth $672,000 after acquiring an additional 42 shares during the last quarter. Finally, Cedrus LLC grew its position in Trane Technologies by 2.6% during the 4th quarter. Cedrus LLC now owns 1,669 shares of the company's stock worth $407,000 after acquiring an additional 43 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Company Profile
(
Get Free Report)
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.
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