Trane Technologies (NYSE:TT) Sets New 12-Month High – Should You Buy?

Trane Technologies plc (NYSE:TT)’s stock price hit a new 52-week high during trading on Monday . The stock 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TT shares. Robert W. Baird cut their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. UBS Group began coverage on Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Northcoast Research started coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market cap of $94.31 billion, a PE ratio of 38.88, a PEG ratio of 2.62 and a beta of 1.02. The business has a 50-day moving average price of $395.80 and a two-hundred day moving average price of $357.67.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share 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 business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the company posted $2.79 EPS. The company’s revenue was up 10.0% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 31.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after purchasing an additional 1,640,569 shares during the last quarter. Swedbank AB acquired a new stake in Trane Technologies during the first quarter worth about $206,211,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock worth $139,067,000 after purchasing an additional 417,120 shares during the period. Finally, FMR LLC grew its holdings in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. 82.97% of the stock is currently 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.