Trane Technologies (NYSE:TT) Reaches New 12-Month High – Should You Buy?

Trane Technologies plc (NYSE:TT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $505.64 and last traded at $503.7810, with a volume of 283679 shares trading hands. The stock had previously closed at $483.15.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TT shares. Royal Bank Of Canada raised their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. Sanford C. Bernstein initiated coverage on Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective on the stock. Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Trading Down 5.0%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a market cap of $105.68 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.32 and a beta of 1.20. The business has a fifty day moving average of $469.89 and a two-hundred day moving average of $437.98.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.45 earnings per share. As a group, equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors have recently bought and sold shares of TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth approximately $25,000. Wilkerson Advisory Group LLC increased its stake in shares of Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. Hilton Head Capital Partners LLC bought a new stake in Trane Technologies during the fourth quarter worth approximately $32,000. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the third quarter worth approximately $32,000. Finally, Physician Wealth Advisors Inc. boosted its stake in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.