Trane Technologies (NYSE:TT) Sees Strong Trading Volume

Trane Technologies plc (NYSE:TT) shares saw unusually-strong trading volume on Friday . Approximately 595,530 shares changed hands during 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.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Barclays raised their price objective 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. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $323.29.

Trane Technologies Price Performance

The company has a fifty day simple moving average of $337.00 and a two-hundred day simple moving average of $317.41. The stock has a market capitalization of $81.86 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping 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 company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $2.68 earnings per share. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s payout ratio is presently 35.90%.

Insider Buying and Selling

In other Trane Technologies 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 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 document filed with the SEC, which is available at the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,243 shares of company stock worth $14,216,550. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Trane Technologies

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