Insider Selling: Trane Technologies (NYSE:TT) CEO Sells 36,045 Shares of Stock

Trane Technologies plc (NYSE:TT) CEO David Regnery sold 36,045 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Trane Technologies Stock Performance

NYSE:TT traded up $4.76 during mid-day trading on Monday, hitting $427.89. 1,605,563 shares of the stock were exchanged, compared to its average volume of 1,728,949. The firm’s 50-day simple moving average is $422.75 and its 200 day simple moving average is $416.99. The stock has a market capitalization of $94.70 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.61 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Trane Technologies during the 2nd quarter worth approximately $1,356,065,000. JPMorgan Chase & Co. increased its holdings in shares of Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Trane Technologies by 229.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares during the period. Capital International Investors bought a new position in shares of Trane Technologies in the 4th quarter worth $324,639,000. Finally, ABN AMRO Bank N.V. acquired a new stake in Trane Technologies in the 2nd quarter valued at $291,206,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their target price on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research note on Wednesday, January 7th. Finally, Morgan Stanley reduced their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

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.