Trane Technologies (NYSE:TT) Reaches New 1-Year High at $364.29

Shares of Trane Technologies plc (NYSE:TT) hit a new 52-week high during trading on Friday . The company traded as high as $364.29 and last traded at $364.07, with a volume of 265927 shares trading hands. The stock had previously closed at $359.67.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. UBS Group boosted their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Robert W. Baird lifted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Morgan Stanley assumed coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Royal Bank of Canada lifted their price target on 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $337.29.

Trane Technologies Trading Up 1.3 %

The company has a 50 day moving average of $341.06 and a 200 day moving average of $322.54. The firm has a market cap of $82.44 billion, a P/E ratio of 38.91, a PEG ratio of 2.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

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

Insider Transactions at Trane Technologies

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

Hedge Funds Weigh In On Trane Technologies

Several hedge funds have recently added to or reduced their stakes in TT. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies in the 1st quarter worth $30,000. Sachetta LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $27,000. Finally, Motco bought a new stake in Trane Technologies in the fourth quarter valued at about $27,000. 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.