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

Trane Technologies plc (NYSE:TT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $438.95 and last traded at $434.47, with a volume of 410124 shares traded. The stock had previously closed at $437.39.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada increased their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Finally, Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.13.

Trane Technologies Stock Down 0.7%

The firm has a 50-day simple moving average of $421.95 and a 200 day simple moving average of $379.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company has a market capitalization of $96.82 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.88 and a beta of 1.15.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.87%. Trane Technologies's dividend payout ratio is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider directly owned 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of Trane Technologies

Several large investors have recently modified their holdings of TT. Vanguard Group Inc. grew its stake in Trane Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after purchasing an additional 221,206 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Geode Capital Management LLC grew its stake in Trane Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock worth $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock worth $1,208,044,000 after acquiring an additional 241,910 shares during the last quarter. Finally, Norges Bank bought a new position in Trane Technologies in the fourth quarter worth about $1,117,816,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.