Insider Selling: Trane Technologies plc (NYSE:TT) CFO Sells 770 Shares of Stock

Trane Technologies plc (NYSE:TT) CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $361.80 on Thursday. The business’s 50 day moving average price is $381.60 and its 200 day moving average price is $378.14. The company has a market cap of $81.41 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a one year low of $265.37 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. Trane Technologies’s dividend payout ratio is 29.87%.

Institutional Trading of Trane Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Trane Technologies by 16.8% in the 3rd quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $468,000. HB Wealth Management LLC increased its holdings in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares during the last quarter. Finally, GDS Wealth Management raised its position in Trane Technologies by 4.3% in the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,124 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TT shares. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $415.25.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.