John Hayes Purchases 400 Shares of Trane Technologies (NYSE:TT) Stock

Trane Technologies plc (NYSE:TT) Director John Hayes bought 400 shares of the stock in a transaction on Thursday, March 5th. The shares were acquired at an average cost of $430.44 per share, with a total value of $172,176.00. Following the purchase, the director owned 400 shares of the company’s stock, valued at approximately $172,176. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Trane Technologies Stock Performance

NYSE:TT opened at $449.96 on Thursday. The stock has a market cap of $99.46 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $462.00 and its 200-day moving average is $432.62. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.45 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bell Investment Advisors Inc boosted its holdings in shares of Trane Technologies by 12.2% during the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock worth $85,000 after buying an additional 22 shares in the last quarter. Fiduciary Family Office LLC boosted its holdings in shares of Trane Technologies by 1.5% during the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after buying an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC boosted its holdings in shares of 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 in the last quarter. Bridgewater Advisors Inc. raised its position in shares of Trane Technologies by 3.7% during the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after purchasing an additional 24 shares during the period. Finally, West Family Investments Inc. raised its position in shares of Trane Technologies by 2.3% during the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after purchasing an additional 24 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Sanford C. Bernstein assumed coverage on Trane Technologies in a report on Tuesday. They issued an “outperform” rating and a $550.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Citigroup upped their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $509.12.

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.