Trane Technologies plc (NYSE:TT) Short Interest Update

Trane Technologies plc (NYSE:TTGet Free Report) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,540,000 shares, an increase of 25.1% from the January 31st total of 2,030,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 2.3 days. Currently, 1.1% of the company’s shares are short sold.

Analysts Set New Price Targets

TT has been the subject of several recent analyst reports. Royal Bank of Canada raised their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Citigroup raised their price target on Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Stephens raised their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Wells Fargo & Company raised their price target on Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a report on Tuesday, December 19th. Finally, The Goldman Sachs Group raised their price target on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One investment 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. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $231.71.

Read Our Latest Report on TT

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $2.15 on Monday, reaching $288.13. The company’s stock had a trading volume of 929,640 shares, compared to its average volume of 1,116,552. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $289.79. The company has a market capitalization of $65.43 billion, a P/E ratio of 32.53, a PEG ratio of 2.24 and a beta of 1.05. The stock has a 50-day moving average price of $259.56 and a 200-day moving average price of $228.87.

Trane Technologies (NYSE:TTGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that Trane Technologies will post 10.18 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $3.36 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.75. Trane Technologies’s payout ratio is 38.23%.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,895 shares of company stock worth $1,859,452 over the last quarter. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TT. BlackRock Inc. lifted its stake in shares of Trane Technologies by 5.4% in the 2nd quarter. BlackRock Inc. now owns 20,337,700 shares of the company’s stock valued at $3,889,789,000 after purchasing an additional 1,048,924 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 18,713,263 shares of the company’s stock valued at $4,564,165,000 after purchasing an additional 89,351 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares during the last quarter. State Street Corp lifted its stake in Trane Technologies by 2.2% during the 2nd quarter. State Street Corp now owns 9,832,534 shares of the company’s stock worth $1,880,570,000 after acquiring an additional 210,171 shares in the last quarter. Finally, FMR LLC lifted its stake in Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

About Trane Technologies

(Get Free Report)

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.

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