Trane Technologies (NYSE:TT) Sets New 52-Week High at $382.49

Trane Technologies plc (NYSE:TT)’s share price hit a new 52-week high on Thursday . The company traded as high as $382.49 and last traded at $379.17, with a volume of 49972 shares changing hands. The stock had previously closed at $371.59.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stephens restated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays upped their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $343.54.

Trane Technologies Price Performance

The company’s 50 day moving average price is $343.21 and its 200 day moving average price is $324.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The company has a market cap of $85.68 billion, a price-to-earnings ratio of 39.71, a P/E/G ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 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. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TT. Sachetta LLC bought a new position in Trane Technologies in the 4th quarter worth approximately $27,000. GoalVest Advisory LLC grew its holdings in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $30,000. Finally, Fortitude Family Office LLC grew its holdings in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the period. 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.