Trane Technologies (NYSE:TT) Sets New 52-Week High at $210.79

Trane Technologies plc (NYSE:TT)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $210.79 and last traded at $210.40, with a volume of 1551597 shares changing hands. The stock had previously closed at $205.94.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TT. Citigroup upped their price objective on Trane Technologies from $218.00 to $237.00 in a research note on Thursday, August 3rd. Mizuho increased their target price on shares of Trane Technologies from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Royal Bank of Canada increased their target price on shares of Trane Technologies from $194.00 to $204.00 and gave the company a “sector perform” rating in a research report on Thursday, August 3rd. Morgan Stanley increased their target price on Trane Technologies from $210.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Finally, Barclays increased their target price on Trane Technologies from $210.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $194.81.

Trane Technologies Trading Up 2.2 %

The firm has a 50 day simple moving average of $199.87 and a 200 day simple moving average of $186.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 1.19. The firm has a market cap of $48.05 billion, a P/E ratio of 25.94, a P/E/G ratio of 1.81 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.12. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.61 billion. Trane Technologies had a return on equity of 31.22% and a net margin of 11.18%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $2.16 EPS. On average, equities research analysts predict that Trane Technologies plc will post 8.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Evan M. Turtz sold 6,108 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $205.21, for a total value of $1,253,422.68. Following the completion of the sale, the senior vice president now owns 19,666 shares in the company, valued at approximately $4,035,659.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 6,108 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $205.21, for a total value of $1,253,422.68. Following the completion of the sale, the senior vice president now owns 19,666 shares in the company, valued at $4,035,659.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 3,964 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $198.00, for a total value of $784,872.00. Following the completion of the sale, the senior vice president now owns 42,116 shares of the company’s stock, valued at approximately $8,338,968. The disclosure for this sale can be found here. Insiders sold 20,374 shares of company stock worth $4,080,669 in the last quarter. 0.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in Trane Technologies by 17.5% in the second quarter. Geneos Wealth Management Inc. now owns 349 shares of the company’s stock worth $67,000 after purchasing an additional 52 shares in the last quarter. Parallel Advisors LLC raised its holdings in Trane Technologies by 2.8% in the second quarter. Parallel Advisors LLC now owns 1,967 shares of the company’s stock worth $376,000 after purchasing an additional 53 shares in the last quarter. Horan Securities Inc. raised its holdings in Trane Technologies by 2.7% in the second quarter. Horan Securities Inc. now owns 2,134 shares of the company’s stock worth $408,000 after purchasing an additional 56 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Trane Technologies by 3.0% in the second quarter. Checchi Capital Advisers LLC now owns 1,982 shares of the company’s stock worth $379,000 after purchasing an additional 57 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its holdings in Trane Technologies by 3.9% in the first quarter. Catalyst Financial Partners LLC now owns 1,586 shares of the company’s stock worth $292,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 80.66% 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.