Trane Technologies (NYSE:TT) Hits New 52-Week High at $336.03

Trane Technologies plc (NYSE:TT - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $336.03 and last traded at $335.25, with a volume of 432068 shares. The stock had previously closed at $330.91.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Citigroup raised their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Stephens raised their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 1st. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the company a "neutral" rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price 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. One 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's stock. According to data from MarketBeat, Trane Technologies currently has an average rating of "Hold" and a consensus target price of $300.54.

Trane Technologies Trading Up 1.4 %

The firm has a market capitalization of $75.96 billion, a PE ratio of 35.35, a PEG ratio of 2.61 and a beta of 1.01. The firm's fifty day moving average is $305.51 and its two-hundred day moving average is $269.29. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.30. The firm had revenue of $4.22 billion for the quarter, compared to analysts' expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, June 7th. This represents a $3.36 annualized dividend and a yield of 1.00%. Trane Technologies's payout ratio is currently 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 3,762 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 61,691 shares of the company's stock, valued at approximately $17,673,237.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the sale, the chief financial officer now owns 61,691 shares of the company's stock, valued at $17,673,237.68. The disclosure for this sale can be found here. Insiders sold 22,979 shares of company stock valued at $6,603,372 in the last quarter. Company insiders own 0.39% of the company's stock.

Institutional Trading of Trane Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth approximately $25,000. Motco bought a new stake in shares of Trane Technologies in the fourth quarter worth approximately $27,000. Sachetta LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth approximately $27,000. GoalVest Advisory LLC grew its stake in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company's stock worth $27,000 after acquiring an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the first quarter worth approximately $27,000. 82.97% of the stock is currently owned by 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.

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