Trane Technologies (NYSE:TT) Insider Donald Simmons Sells 3,762 Shares

Trane Technologies plc (NYSE:TT) insider Donald Simmons sold 3,762 shares of Trane Technologies 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 $1,590,197.40. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $4.76 during mid-day trading on Monday, hitting $427.89. 1,605,563 shares of the company were exchanged, compared to its average volume of 1,728,949. The stock has a 50 day simple moving average of $422.75 and a 200-day simple moving average of $416.99. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $94.70 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.

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. 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 for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the company posted $2.61 EPS. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TT. Morgan Stanley dropped their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Melius Research upgraded 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. Citigroup raised their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Institutional Investors Weigh In On Trane Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Consulate Inc. acquired a new position in shares of Trane Technologies in the third quarter worth $25,000. Tucker Asset Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $25,000. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies during the 2nd quarter worth about $26,000. United Community Bank raised its position in shares of Trane Technologies by 134.4% in the third 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 last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.