Trane Technologies (NYSE:TT) Hits New 1-Year High - What's Next?

Shares of Trane Technologies plc (NYSE:TT - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $451.87 and last traded at $445.93, with a volume of 1296591 shares trading hands. The stock had previously closed at $450.06.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. Citigroup raised their price objective on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group increased their price objective on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Robert W. Baird raised their price objective on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Finally, Barclays increased their price objective on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and an average target price of $441.40.

Trane Technologies Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The firm has a market capitalization of $99.07 billion, a PE ratio of 36.96, a P/E/G ratio of 2.91 and a beta of 1.15. The stock has a fifty day moving average price of $429.64 and a 200-day moving average price of $383.66.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period last year, the firm earned $1.94 EPS. The company's quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is currently 31.28%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

A number of large investors have recently modified their holdings of the business. J. Safra Sarasin Holding AG grew its holdings in shares of Trane Technologies by 54.0% during the second quarter. J. Safra Sarasin Holding AG now owns 95,174 shares of the company's stock worth $41,630,000 after buying an additional 33,374 shares in the last quarter. EWA LLC acquired a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $217,000. Naples Global Advisors LLC acquired a new position in Trane Technologies in the second quarter worth about $246,000. Parsons Capital Management Inc. RI increased its stake in Trane Technologies by 0.7% during the second quarter. Parsons Capital Management Inc. RI now owns 8,751 shares of the company's stock valued at $3,828,000 after purchasing an additional 59 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its position in shares of Trane Technologies by 34.9% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,074 shares of the company's stock worth $470,000 after purchasing an additional 278 shares during the period. 82.97% of the stock is 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.

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