Trane Technologies (NYSE:TT) CAO Sells $63,359.76 in Stock

Trane Technologies plc (NYSE:TT) CAO Elizabeth Elwell sold 137 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,283,608. This represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Trane Technologies Stock Performance

Trane Technologies stock traded up $10.99 during mid-day trading on Wednesday, reaching $472.37. 1,304,627 shares of the company were exchanged, compared to its average volume of 2,003,896. The firm’s 50-day simple moving average is $400.25 and its two-hundred day simple moving average is $414.16. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The firm has a market cap of $104.55 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. 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 announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share 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 issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is 28.97%.

Analyst Upgrades and Downgrades

TT has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Citigroup boosted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, UBS Group dropped their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and an average price target of $484.67.

Institutional Trading of Trane Technologies

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after purchasing an additional 192,270 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the last quarter. State Street Corp grew its stake in shares of Trane Technologies by 0.3% during the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after acquiring an additional 31,826 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Trane Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after acquiring an additional 14,179 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Trane Technologies in the second quarter worth about $1,356,065,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.