Insider Selling: Trane Technologies (NYSE:TT) CEO Sells $2,585,008.80 in Stock

Trane Technologies plc (NYSE:TT) CEO David Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $44,848,144.80. This represents a 5.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Trane Technologies Trading Up 1.0%

Shares of TT opened at $465.04 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $102.93 billion, a P/E ratio of 35.83, a PEG ratio of 2.42 and a beta of 1.21. The firm’s 50-day moving average is $403.90 and its two-hundred day moving average is $414.84.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the company earned $2.61 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts predict that Trane Technologies plc will post 12.83 earnings per share 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. Stockholders of record on Friday, March 6th will be given a $1.05 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

Analysts Set New Price Targets

A number of brokerages recently commented on TT. Oppenheimer increased their price objective 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. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. UBS Group dropped their price objective 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. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TT. Brighton Jones LLC lifted its position in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after acquiring an additional 305 shares during the period. CWM LLC boosted its position in shares of Trane Technologies by 18.0% in the second quarter. CWM LLC now owns 23,573 shares of the company’s stock worth $10,311,000 after acquiring an additional 3,592 shares during the last quarter. MGO One Seven LLC grew its holdings in Trane Technologies by 4.0% in the second quarter. MGO One Seven LLC now owns 3,564 shares of the company’s stock valued at $1,559,000 after purchasing an additional 138 shares during the period. Finally, Vest Financial LLC purchased a new position in Trane Technologies during the second quarter worth approximately $279,000. 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.