Trane Technologies (NYSE:TT) Sets New 12-Month High at $390.60

Trane Technologies plc (NYSE:TT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $390.60 and last traded at $388.34, with a volume of 160124 shares changing hands. The stock had previously closed at $383.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TT. UBS Group lifted 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. Morgan Stanley assumed coverage on Trane Technologies in a research report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Royal Bank of Canada raised their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, Barclays raised their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $343.54.

Trane Technologies Trading Up 0.9 %

The stock has a 50-day simple moving average of $346.45 and a 200 day simple moving average of $327.42. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a market cap of $87.41 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.68 and a beta of 1.01.

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. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.68 EPS. As a group, equities research analysts predict that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Activity

In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated 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 transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several large investors have recently bought and sold shares of the company. PFG Private Wealth Management LLC increased its stake in Trane Technologies by 4.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after buying an additional 32 shares in the last quarter. Center for Financial Planning Inc. increased its stake in Trane Technologies by 1.7% during the 1st quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock worth $624,000 after buying an additional 34 shares in the last quarter. Bell Investment Advisors Inc increased its stake in Trane Technologies by 26.5% during the 2nd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $55,000 after buying an additional 35 shares in the last quarter. Muirfield Wealth Advisors LLC increased its stake in Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after buying an additional 37 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its stake in Trane Technologies by 5.2% during the 2nd quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after buying an additional 38 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.