Insider Buying: Trane Technologies (NYSE:TT) Director Buys $172,176.00 in Stock

Trane Technologies plc (NYSE:TT) Director John Hayes bought 400 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $430.44 per share, for a total transaction of $172,176.00. Following the completion of the transaction, the director directly owned 400 shares in the company, valued at approximately $172,176. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Trane Technologies Trading Up 2.4%

NYSE TT opened at $459.89 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm’s fifty day moving average price is $462.86 and its 200 day moving average price is $432.97. The company has a market capitalization of $101.66 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.20. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.45 EPS. On average, sell-side analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Institutional Trading of Trane Technologies

Several hedge funds have recently made changes to their positions in TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth $25,000. Wilkerson Advisory Group LLC lifted its stake in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth $32,000. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies in the 3rd quarter worth $32,000. Finally, Physician Wealth Advisors Inc. lifted its stake in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TT shares. Citigroup increased their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Barclays increased their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.