Insider Selling: Trane Technologies (NYSE:TT) CFO Sells 2,389 Shares of Stock

Trane Technologies plc (NYSE:TT) CFO Christopher Kuehn sold 2,389 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded up $10.99 during trading on Wednesday, reaching $472.37. The company’s stock had a trading volume of 1,304,623 shares, compared to its average volume of 2,003,896. The firm has a market cap of $104.55 billion, a PE ratio of 36.39, a P/E/G ratio of 2.42 and a beta of 1.21. The company has a 50-day moving average price of $400.25 and a two-hundred day moving average price of $414.16. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the business posted $2.61 earnings per share. Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is 28.97%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TT shares. Morgan Stanley lowered their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Oppenheimer lifted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Citigroup raised their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada increased their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after purchasing an additional 192,270 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares in the last quarter. State Street Corp boosted its position in shares of Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after buying an additional 31,826 shares during the period. Geode Capital Management LLC raised its holdings in shares of Trane Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after buying an additional 14,179 shares during the period. Finally, Norges Bank acquired a new position in Trane Technologies during the 2nd quarter worth approximately $1,356,065,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.