Elizabeth Elwell Sells 137 Shares of Trane Technologies (NYSE:TT) Stock

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

Trane Technologies Stock Up 2.4%

Shares of NYSE:TT traded up $10.99 during midday trading on Wednesday, reaching $472.37. The company had a trading volume of 1,304,627 shares, compared to its average volume of 2,003,896. The stock has a market capitalization of $104.55 billion, a P/E ratio of 36.39, a PEG ratio of 2.42 and a beta of 1.21. The stock’s fifty day moving average price is $400.25 and its 200-day moving average price is $414.16. 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 one year low of $298.15 and a one year high of $476.18.

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, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $2.61 EPS. Equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. 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. Trane Technologies’s dividend payout ratio is currently 28.97%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Zions Bancorporation National Association UT lifted its stake in shares of Trane Technologies by 10.8% in the 4th quarter. Zions Bancorporation National Association UT now owns 1,893 shares of the company’s stock valued at $737,000 after purchasing an additional 185 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Trane Technologies by 1.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 28,728 shares of the company’s stock worth $11,181,000 after buying an additional 403 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Trane Technologies during the 4th quarter worth about $65,000. Janney Montgomery Scott LLC increased its holdings in shares of Trane Technologies by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 88,782 shares of the company’s stock valued at $34,554,000 after acquiring an additional 1,124 shares during the last quarter. Finally, Portfolio Design Labs LLC raised its stake in shares of Trane Technologies by 3.5% in the 4th quarter. Portfolio Design Labs LLC now owns 2,523 shares of the company’s stock valued at $982,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TT shares. Morgan Stanley decreased their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Barclays raised their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $490.00 to $550.00 in a research report on Thursday, November 13th. Finally, KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a report on Monday, December 15th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

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.