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

Shares of Trane Technologies plc (NYSE:TT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $422.00 and last traded at $418.64, with a volume of 24978 shares traded. The stock had previously closed at $417.49.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday. They issued a “buy” rating and a $500.00 target price for the company. Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, UBS Group started coverage on shares of Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Down 1.4 %

The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. The firm has a market cap of $92.64 billion, a PE ratio of 38.73, a PEG ratio of 2.64 and a beta of 1.02. The firm has a fifty day simple moving average of $394.03 and a two-hundred day simple moving average of $356.49.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.82%. Trane Technologies’s payout ratio is 31.17%.

Institutional Trading of Trane Technologies

A number of hedge funds have recently modified their holdings of TT. Albar Capital Ltd bought a new position in Trane Technologies during the 2nd quarter valued at approximately $14,556,000. GDS Wealth Management increased its holdings in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after acquiring an additional 2,124 shares in the last quarter. King Wealth Management Group purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $1,879,000. Gradient Investments LLC boosted its stake in Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after purchasing an additional 1,997 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock valued at $12,985,000 after purchasing an additional 1,554 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.