Insider Selling: Trane Technologies (NYSE:TT) Insider Sells $1,590,197.40 in Stock

Trane Technologies plc (NYSE:TT) insider Donald Simmons sold 3,762 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Trane Technologies Stock Down 0.3%

TT opened at $432.30 on Thursday. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market capitalization of $95.68 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 2.28 and a beta of 1.19. The business’s 50-day simple moving average is $425.13 and its 200-day simple moving average is $417.20.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.61 EPS. Analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm 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 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 32.36%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Financial Consulate Inc. purchased a new stake in Trane Technologies in the 3rd quarter valued at approximately $25,000. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter worth approximately $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $26,000. United Community Bank lifted its holdings in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 43 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $32,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada boosted their price target on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research note on Wednesday, January 7th. UBS Group lowered their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. boosted their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

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.