Trane Technologies (NYSE:TT) Sets New 1-Year High - Still a Buy?

Trane Technologies plc (NYSE:TT - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $434.12 and last traded at $434.12, with a volume of 480193 shares traded. The stock had previously closed at $423.29.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Barclays decreased their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $405.00 to $415.00 in a report on Friday, April 25th. UBS Group lifted their price target on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company lifted their price target on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird boosted their price objective on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. One equities research 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 company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Trading Down 0.5%

The business has a 50 day moving average of $373.99 and a 200-day moving average of $376.03. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $95.94 billion, a P/E ratio of 38.24, a PEG ratio of 2.50 and a beta of 1.14.

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 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.87%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares of the company's stock, 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 SEC, which is available through this link. Insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TT. Anderson Financial Strategies LLC purchased a new position in Trane Technologies during the first quarter worth $51,000. Strs Ohio acquired a new position in Trane Technologies in the 1st quarter worth approximately $28,520,000. Foresight Group Ltd Liability Partnership increased its holdings in Trane Technologies by 1,010.4% in the 1st quarter. Foresight Group Ltd Liability Partnership now owns 29,848 shares of the company's stock worth $10,043,000 after buying an additional 27,160 shares during the period. Jacobi Capital Management LLC grew its position in Trane Technologies by 14.7% during the first quarter. Jacobi Capital Management LLC now owns 3,505 shares of the company's stock valued at $1,181,000 after buying an additional 450 shares during the period. Finally, Advisors Capital Management LLC grew its position in shares of Trane Technologies by 2.3% in the first quarter. Advisors Capital Management LLC now owns 164,384 shares of the company's stock valued at $55,384,000 after purchasing an additional 3,698 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.