Trane Technologies (NYSE:TT) CEO Sells $2,585,008.80 in Stock

Trane Technologies plc (NYSE:TT) CEO David Regnery sold 5,588 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Trane Technologies Trading Up 2.4%

Shares of TT traded up $10.99 during trading hours on Wednesday, reaching $472.37. 1,304,623 shares of the company traded hands, compared to its average volume of 2,003,896. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a market capitalization of $104.55 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. The company’s fifty day moving average price is $400.25 and its two-hundred day moving average price is $414.16. 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 (NYSE:TT) last posted 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 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 business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.61 EPS. Equities research 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 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 is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 28.97%.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Trane Technologies during the 2nd quarter valued at $1,356,065,000. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Trane Technologies by 229.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after purchasing an additional 1,157,405 shares in the last quarter. Finally, Capital International Investors bought a new position in Trane Technologies in the 4th quarter worth approximately $324,639,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TT shares. Barclays boosted their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Morgan Stanley dropped their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. Finally, Citigroup increased their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average 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.