Trane Technologies (NYSE:TT) Sets New 52-Week High – Still a Buy?

Trane Technologies plc (NYSE:TT)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $487.08 and last traded at $477.4440, with a volume of 1201600 shares trading hands. The stock had previously closed at $479.12.

Analyst Upgrades and Downgrades

TT has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research note on Wednesday, January 7th. Morgan Stanley cut their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Oppenheimer boosted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $492.94.

Trane Technologies Trading Down 0.3%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The firm has a market cap of $105.67 billion, a PE ratio of 36.78, a PEG ratio of 2.52 and a beta of 1.21. The stock’s 50 day simple moving average is $444.77 and its 200 day simple moving average is $422.69.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the company earned $2.61 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 14.76 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.36%.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’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 directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their position. 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. Insiders sold a total of 57,997 shares of company stock worth $25,107,014 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of institutional investors have recently made changes to their positions in the business. Continuum Advisory LLC boosted its stake in shares of Trane Technologies by 1.4% in the 1st quarter. Continuum Advisory LLC now owns 1,923 shares of the company’s stock valued at $801,000 after purchasing an additional 26 shares in the last quarter. Tred Avon Family Wealth LLC raised its holdings in Trane Technologies by 0.9% during the 1st quarter. Tred Avon Family Wealth LLC now owns 3,658 shares of the company’s stock valued at $1,524,000 after buying an additional 33 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Trane Technologies by 1.6% during the 1st quarter. Apollon Wealth Management LLC now owns 10,597 shares of the company’s stock valued at $4,416,000 after buying an additional 168 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Trane Technologies by 109.5% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,190 shares of the company’s stock valued at $496,000 after buying an additional 622 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Trane Technologies by 1.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,741 shares of the company’s stock valued at $37,399,000 after buying an additional 959 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Company Profile

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.