Trane Technologies (NYSE:TT) Sets New 52-Week High – Still a Buy?

Trane Technologies plc (NYSE:TT)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $487.08 and last traded at $477.4440, with a volume of 1201600 shares changing hands. The stock had previously closed at $479.12.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. Citigroup upped their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. KeyCorp upped their price target on shares of Trane Technologies from $500.00 to $525.00 and gave the company an “overweight” rating in a report on Tuesday. Morgan Stanley cut their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Finally, Oppenheimer lifted their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $492.94.

Trane Technologies Stock Down 0.3%

The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $105.67 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company’s fifty day simple moving average is $444.77 and its 200 day simple moving average is $422.69.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping 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 business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the business earned $2.61 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts expect that Trane Technologies plc will post 14.76 EPS for the current year.

Trane Technologies Announces Dividend

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

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This trade represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,997 shares of company stock valued at $25,107,014 over the last quarter. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TT. Financial Consulate Inc. bought a new position in shares of Trane Technologies in the 3rd quarter worth about $25,000. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $25,000. United Community Bank boosted its holdings in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $32,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $32,000. 82.97% of the stock is currently owned by institutional investors.

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.