Trane Technologies (NYSE:TT) CAO Elizabeth Elwell Sells 635 Shares

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

Trane Technologies Stock Performance

NYSE TT opened at $427.89 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The firm has a 50-day moving average price of $423.43 and a two-hundred day moving average price of $417.02. The company has a market capitalization of $94.70 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.23 and a beta of 1.19. 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 released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share 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 during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the business earned $2.61 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Barclays upped their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. KeyCorp raised 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. Morgan Stanley decreased their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, Citigroup increased their price objective on shares of 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 assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. Fiduciary Family Office LLC lifted its holdings in shares of Trane Technologies by 1.5% during the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after purchasing an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC lifted its holdings in Trane Technologies by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after buying an additional 23 shares during the period. King Luther Capital Management Corp increased its stake in shares of Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after buying an additional 24 shares during the period. Old Port Advisors raised its position in shares of Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after acquiring an additional 24 shares during the last quarter. Finally, OneAscent Wealth Management LLC boosted its holdings in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after acquiring an additional 24 shares during the last quarter. 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.