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Trane Technologies (NYSE:TT) hit a new one-year high at $339.78

Trane Technologies (NYSE:TT) hit a new one-year high at 9.78

Trane Technologies plc ( NYSE:TT – Get Free Report ) hit a new 52-week high during afternoon trading on Tuesday. The company traded at $339.78 and last traded at $339.76, with a volume of 344520 shares changing hands. The stock previously closed at $335.31.

Changes in analyst ratings

A number of brokers have issued reports on TT. JPMorgan Chase & Co. raised his price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2. Barclays raised their price target on Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4. UBS Group raised their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3. Goldman Sachs Group raised their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1. Finally, Citigroup raised their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $309.79.

Read our latest research report on Trane technologies

Trane Technologies Price-performance

The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The company has a fifty-day simple moving average of $317.81 and a 200-day simple moving average of $283.88. The stock has a market cap of $77.62 billion, a price-to-earnings ratio of 35.82, a price-to-earnings growth ratio of 2.62 and a beta of 1.01.

Trane Technologies (NYSE:TT – Get Free Report) last reported its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. In the same quarter of the previous year, the company posted earnings per share of $1.41. The company’s revenue for the quarter increased 15.0% year over year. On average, analysts expect that Trane Technologies plc will post 10.46 earnings per share for the current year.

Trane Technologies announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30. Investors of record on Friday, September 6 will receive a dividend of $0.84. The ex-dividend date is Friday, September 6. This represents a dividend of $3.36 annually and a dividend yield of 0.98%. Trane Technologies’ dividend payout ratio (DPR) currently stands at 35.90%.

Insider buying and selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The stock sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction dated Tuesday, June 4. The stock sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The explanation of this sale can be found here. Corporate insiders own 0.38% of the company’s shares.

Hedge funds weigh in on Trane Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TT. BKM Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $25,000. Motco bought a new position in Trane Technologies in the 4th quarter valued at $27,000. Sachetta LLC bought a new position in Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC boosted its position in Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Finally, Dixon purchased Mitchell Investment Counsel Inc. a new position in shares of Trane Technologies during the first quarter, worth approximately $27,000. Hedge funds and other institutional investors own 82.97% of the company’s shares.

About Trane Technologies

(Get a free report)

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells and services heating, ventilation, air conditioning, custom and tailor-made and transport refrigeration solutions in Ireland and internationally. It offers air conditioners, exchangers and handlers; airside and terminal equipment; air heat pumps, auxiliary units; chillers; coils and condensers; generator sets; dehumidifiers; ductless; ovens; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unit products; refrigerant recovery products; thermostats/controllers; transport heating products; variable coolant flow products; and water source heat pumps.

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