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

Trane Technologies plc (NYSE:TT) CAO Elizabeth Elwell sold 635 shares of the firm’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 value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Trane Technologies Stock Performance

Trane Technologies stock traded up $4.76 during mid-day trading on Monday, hitting $427.89. 1,605,563 shares of the company’s stock traded hands, compared to its average volume of 1,728,949. 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 plc has a one year low of $298.15 and a one year high of $479.37. The firm has a 50 day moving average price of $422.75 and a 200 day moving average price of $416.99. The company has a market cap of $94.70 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.

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

Trane Technologies Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies’s dividend payout ratio is presently 32.36%.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds have recently modified their holdings of TT. Fiduciary Family Office LLC raised its position 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 increased its stake in Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after purchasing an additional 23 shares in the last quarter. King Luther Capital Management Corp increased its stake in Trane Technologies by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after purchasing an additional 24 shares in the last quarter. Old Port Advisors raised its holdings in Trane Technologies by 3.2% during the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after buying an additional 24 shares during the period. Finally, OneAscent Wealth Management LLC lifted its stake in Trane Technologies by 1.5% during the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after buying an additional 24 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TT shares. Citigroup increased their price target on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $490.00 to $550.00 in a report on Thursday, November 13th. Oppenheimer raised their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Barclays boosted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $484.67.

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.