Trane Technologies (NYSE:TT) Reaches New 1-Year High – Still a Buy?

Trane Technologies plc (NYSE:TT) shares hit a new 52-week high during mid-day trading on Thursday . The company 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.

Analysts Set New Price Targets

TT has been the subject of a number of research analyst reports. Barclays upped their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. UBS Group reduced their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $492.94.

Trane Technologies Trading Up 0.3%

The company has a fifty day moving average of $445.72 and a two-hundred day moving average of $423.57. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $107.76 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 2.56 and a beta of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the company posted $2.61 EPS. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Trane Technologies plc will post 14.76 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio is currently 32.36%.

Insiders Place Their Bets

In related news, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 quarter. 0.14% of the stock is owned by company insiders.

Institutional Trading of Trane Technologies

Several large investors have recently bought and sold shares of TT. Financial Consulate Inc. acquired a new stake in Trane Technologies in the 3rd quarter valued at about $25,000. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth $25,000. United Community Bank lifted its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter valued at $32,000. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds 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.