Trane Technologies (NYSE:TT) Reaches New 52-Week High at $327.47

Trane Technologies plc (NYSE:TT - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $327.47 and last traded at $325.33, with a volume of 52765 shares. The stock had previously closed at $325.74.

Analysts Set New Price Targets

A number of research firms have weighed in on TT. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the company an "underweight" rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their target price 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. The Goldman Sachs Group increased their target price 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 increased their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. Finally, Stephens raised their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $300.54.

Trane Technologies Trading Up 0.0 %

The stock has a market cap of $73.77 billion, a PE ratio of 34.82, a P/E/G ratio of 2.54 and a beta of 1.01. 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 50-day simple moving average of $296.65 and a 200-day simple moving average of $259.66.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 EPS 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 business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company earned $1.41 EPS. The firm's revenue was up 15.0% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, June 6th. Trane Technologies's dividend payout ratio is presently 35.90%.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company's stock, valued at $17,673,237.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now directly owns 61,691 shares of the company's stock, valued at $17,673,237.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies 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 sale, the chief executive officer now owns 113,874 shares of the company's stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock worth $8,024,534 in the last three months. Corporate insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TT. Commonwealth Equity Services LLC boosted its stake in shares of Trane Technologies by 1.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,603 shares of the company's stock valued at $8,442,000 after purchasing an additional 793 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Trane Technologies by 2.6% during the third quarter. Stratos Wealth Partners LTD. now owns 4,586 shares of the company's stock valued at $931,000 after buying an additional 117 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Trane Technologies by 5.2% during the third quarter. J.W. Cole Advisors Inc. now owns 1,328 shares of the company's stock valued at $270,000 after buying an additional 66 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Trane Technologies by 69.7% in the third quarter. Brown Advisory Inc. now owns 36,340 shares of the company's stock worth $7,374,000 after buying an additional 14,931 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Trane Technologies by 6.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,307 shares of the company's stock valued at $265,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

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.