Trane Technologies (NYSE:TT) Sets New 12-Month High at $382.49

Trane Technologies plc (NYSE:TT) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $382.49 and last traded at $379.17, with a volume of 49972 shares changing hands. The stock had previously closed at $371.59.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent research reports. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. UBS Group upped their price target on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $343.54.

Trane Technologies Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $344.77 and a 200-day moving average price of $325.45. The firm has a market capitalization of $87.13 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the firm posted $2.68 EPS. The business’s revenue was up 12.8% on a year-over-year basis. As a group, analysts anticipate that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. PFG Private Wealth Management LLC boosted its position in shares of Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in Trane Technologies by 1.7% during the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after acquiring an additional 34 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in Trane Technologies by 26.5% during the second quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after acquiring an additional 35 shares in the last quarter. Muirfield Wealth Advisors LLC lifted its holdings in Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after acquiring an additional 37 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its holdings in Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after acquiring an additional 38 shares in the last quarter. 82.97% of the stock is currently owned by 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.