Trane Technologies (NYSE:TT) Insider Sells $380,232.54 in Stock

Trane Technologies plc (NYSE:TT) insider Donald Simmons sold 822 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Trane Technologies Trading Up 1.0%

Shares of TT stock opened at $465.04 on Friday. The business has a 50-day moving average of $403.90 and a 200 day moving average of $414.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The stock has a market capitalization of $102.93 billion, a PE ratio of 35.83, a P/E/G ratio of 2.42 and a beta of 1.21.

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

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 28.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TT shares. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Citigroup boosted their price target on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada boosted their target price on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Institutional Trading of Trane Technologies

Several hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its position in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the period. CWM LLC increased its position in shares of Trane Technologies by 18.0% during the 2nd quarter. CWM LLC now owns 23,573 shares of the company’s stock valued at $10,311,000 after purchasing an additional 3,592 shares during the last quarter. MGO One Seven LLC raised its holdings in Trane Technologies by 4.0% during the 2nd quarter. MGO One Seven LLC now owns 3,564 shares of the company’s stock valued at $1,559,000 after buying an additional 138 shares during the period. Finally, Vest Financial LLC bought a new stake in Trane Technologies in the second quarter worth $279,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.