Insider Selling: Trane Technologies (NYSE:TT) CEO Sells 36,045 Shares of Stock

Trane Technologies plc (NYSE:TT) CEO David Regnery sold 36,045 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Trane Technologies Trading Up 1.1%

Shares of Trane Technologies stock traded up $4.76 during 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 firm has a market capitalization of $94.70 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The firm’s fifty day moving average price is $422.75 and its 200 day moving average price is $416.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 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 firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the firm earned $2.61 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TT. Oppenheimer lifted their price target 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 target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a report on Monday, December 15th. Finally, Barclays upped their price objective on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $484.67.

Institutional Trading of Trane Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TT. Financial Consulate Inc. acquired a new position in shares of Trane Technologies in the third quarter valued at $25,000. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $25,000. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies during the 2nd quarter worth about $26,000. United Community Bank boosted its holdings in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.