Trane Technologies (NYSE:TT) Insider Donald Simmons Sells 3,762 Shares of Stock

Trane Technologies plc (NYSE:TT) insider Donald Simmons sold 3,762 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Trane Technologies Stock Up 1.1%

TT stock opened at $427.89 on Tuesday. The company has a 50 day moving average of $423.43 and a two-hundred day moving average of $417.02. The company has a market cap of $94.70 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. 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 results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the company posted $2.61 EPS. Trane Technologies’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Wall Street Analysts Forecast Growth

TT has been the subject of several recent research reports. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research note on Monday, December 15th. Oppenheimer boosted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, Barclays lifted their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. 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 issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $484.67.

Hedge Funds Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Consulate Inc. bought a new stake in shares of Trane Technologies during the 3rd quarter worth $25,000. Tucker Asset Management LLC bought a new position in Trane Technologies in the 4th quarter worth $25,000. Icon Advisers Inc. Co. acquired a new position in Trane Technologies during the 2nd quarter worth $26,000. United Community Bank boosted its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $32,000. Institutional investors and hedge funds 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.