Donald Simmons Sells 822 Shares of Trane Technologies (NYSE:TT) Stock

Trane Technologies plc (NYSE:TT) insider Donald Simmons sold 822 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total value of $380,232.54. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,766,554.83. The trade was a 17.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Trane Technologies Stock Performance

NYSE:TT traded up $10.99 during trading hours on Wednesday, reaching $472.37. 1,304,623 shares of the company’s stock were exchanged, compared to its average volume of 2,003,896. The firm has a market capitalization of $104.55 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.42 and a beta of 1.21. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a 50-day moving average of $400.25 and a 200 day moving average of $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 announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors 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. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is presently 28.97%.

Analyst Upgrades and Downgrades

TT has been the subject of several analyst reports. Barclays boosted their target price 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. Oppenheimer raised their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Finally, UBS Group lowered their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Institutional Trading of Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Trane Technologies during the second quarter valued at about $1,356,065,000. JPMorgan Chase & Co. lifted its holdings in 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 purchasing an additional 1,433,563 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Trane Technologies by 229.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after buying an additional 1,220,388 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Trane Technologies by 89.1% during the second quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after acquiring an additional 1,157,405 shares during the last quarter. Finally, Capital International Investors acquired a new position in Trane Technologies in the fourth quarter valued at approximately $324,639,000. 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.