Trane Technologies (NYSE:TT) Sees Large Volume Increase

Trane Technologies plc (NYSE:TT) saw unusually-strong trading volume on Friday . Approximately 595,530 shares traded hands during mid-day trading, a decline of 46% from the previous session’s volume of 1,109,481 shares.The stock last traded at $355.15 and had previously closed at $355.02.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. UBS Group increased 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. Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $323.29.

Trane Technologies Price Performance

The stock has a market cap of $81.23 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $336.45 and its two-hundred day simple moving average is $316.45.

Trane Technologies (NYSE:TT) last released its quarterly earnings data 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. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. On average, analysts forecast that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,243 shares of company stock valued at $14,216,550. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently modified their holdings of TT. Cetera Investment Advisers increased its holdings in Trane Technologies by 1.0% during the second quarter. Cetera Investment Advisers now owns 53,873 shares of the company’s stock worth $17,721,000 after buying an additional 550 shares during the last quarter. SPC Financial Inc. raised its stake in Trane Technologies by 75.5% in the second quarter. SPC Financial Inc. now owns 1,223 shares of the company’s stock valued at $402,000 after buying an additional 526 shares during the period. Advisory Alpha LLC lifted its position in shares of Trane Technologies by 11.0% in the second quarter. Advisory Alpha LLC now owns 744 shares of the company’s stock valued at $245,000 after buying an additional 74 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Trane Technologies by 3.0% during the 2nd quarter. Truist Financial Corp now owns 354,263 shares of the company’s stock worth $116,528,000 after acquiring an additional 10,413 shares during the last quarter. Finally, Hershey Financial Advisers LLC acquired a new stake in Trane Technologies during the 2nd quarter valued at $1,735,000. Institutional investors own 82.97% of the company’s stock.

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.