Trane Technologies (NYSE:TT) Sets New 52-Week High - Should You Buy?

Key Points

• Trane Technologies reached a new 52-week high of $476.19 during trading, closing at $472.55, signaling strong market interest.
• Analysts have raised their price targets for Trane Technologies, with Citigroup setting a new target of $502.00 and giving it a "buy" rating, while overall ratings reflect a "Moderate Buy" sentiment.
• The company reported earnings of $2.45 per share for the last quarter, surpassing expectations by $0.25, along with quarterly revenue of $4.69 billion.

Trane Technologies plc (NYSE:TT - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $476.19 and last traded at $472.55, with a volume of 26386 shares changing hands. The stock had previously closed at $472.07.

Analysts Set New Price Targets

TT has been the topic of a number of research reports. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Robert W. Baird lifted their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Citigroup raised their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Barclays lifted their price objective on shares of Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. One 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Moderate Buy" and an average price target of $441.40.

Trane Technologies Trading Down 0.4%

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 50 day simple moving average of $433.17 and a two-hundred day simple moving average of $386.23. The firm has a market capitalization of $104.82 billion, a P/E ratio of 39.12, a PEG ratio of 3.07 and a beta of 1.15.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is presently 31.28%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies 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 owned 3,593 shares in the company, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.

Institutional Trading of Trane Technologies

A number of hedge funds have recently bought and sold shares of the company. WFA Asset Management Corp lifted its position in Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies in the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies in the fourth quarter worth $28,000. Ameriflex Group Inc. purchased a new stake in Trane Technologies in the second quarter worth $28,000. Finally, Saudi Central Bank bought a new stake in Trane Technologies in the first quarter worth $30,000. Institutional investors own 82.97% of the company's stock.

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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