Trane Technologies (NYSE:TT) Hits New 52-Week High at $391.94

Trane Technologies plc (NYSE:TT)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $391.94 and last traded at $386.55, with a volume of 75837 shares traded. The stock had previously closed at $388.73.

Wall Street Analyst Weigh In

TT has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” 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 research note on Friday, September 6th. Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Robert W. Baird lifted their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $343.54.

Trane Technologies Stock Down 0.9 %

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 stock’s 50 day simple moving average is $350.72 and its 200 day simple moving average is $330.23. The firm has a market cap of $87.17 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01.

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

Insider Activity

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

Institutional Trading of Trane Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. PFG Private Wealth Management LLC grew its stake in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after purchasing an additional 32 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of Trane Technologies by 26.5% in 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 during the last quarter. Muirfield Wealth Advisors LLC grew its position in Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after buying an additional 37 shares during the period. Pure Financial Advisors LLC grew its position in Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after buying an additional 38 shares during the period. Finally, Simmons Bank raised its position in Trane Technologies by 5.6% in the second quarter. Simmons Bank now owns 718 shares of the company’s stock worth $236,000 after acquiring an additional 38 shares during the period. 82.97% of the stock is 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.