Trane Technologies (NYSE:TT) CAO Sells $268,414.50 in Stock

Trane Technologies plc (NYSE:TT) CAO Elizabeth Elwell sold 635 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Trane Technologies Trading Down 0.3%

TT stock opened at $432.30 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The company has a market cap of $95.68 billion, a P/E ratio of 33.30, a PEG ratio of 2.28 and a beta of 1.19. The business has a fifty day moving average of $425.13 and a 200-day moving average of $417.20.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results 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 business 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 firm’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 earnings per share. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s payout ratio is 32.36%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TT shares. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Oppenheimer lifted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, Citigroup raised their price target on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Trane Technologies in the second quarter worth $1,356,065,000. JPMorgan Chase & Co. grew its holdings in shares of 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 period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after buying an additional 1,220,388 shares in the last quarter. Capital International Investors bought a new stake in shares of Trane Technologies in the 4th quarter valued at $324,639,000. Finally, ABN AMRO Bank N.V. acquired a new stake in Trane Technologies during the 2nd quarter worth $291,206,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Company Profile

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.