Trane Technologies (NYSE:TT) Hits New 12-Month High at $391.94

Trane Technologies plc (NYSE:TT) shares reached a new 52-week high during trading on Tuesday . The company 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.

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price on the stock. Barclays boosted their price objective on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada increased 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. Stephens reissued an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a report on Monday, August 5th. Finally, 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 note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus price target of $343.54.

Trane Technologies Trading Down 0.9 %

The stock has a market cap of $87.17 billion, a price-to-earnings ratio of 41.52, a P/E/G ratio of 2.68 and a beta of 1.01. The business has a 50-day simple moving average of $350.72 and a two-hundred day simple moving average of $330.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for 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 company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 earnings per share. Equities analysts forecast that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, 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 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 accessible through the SEC website. In other news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now owns 132,946 shares in the company, 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

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

About Trane Technologies

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.