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

Trane Technologies plc (NYSE:TT) shares hit a new 52-week high during trading on Friday . The stock traded as high as $409.02 and last traded at $408.87, with a volume of 431908 shares traded. The stock had previously closed at $395.92.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird decreased their price objective on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $380.15.

Trane Technologies Stock Performance

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 company has a market capitalization of $92.39 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The stock’s fifty day simple moving average is $380.72 and its 200-day simple moving average is $348.06.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Analysts predict that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC raised its position in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Trane Technologies in the second quarter worth $39,000. Finally, Quarry LP acquired a new stake in shares of Trane Technologies during the second quarter valued at $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.