Short Interest in Trane Technologies plc (NYSE:TT) Declines By 18.2%


Share on StockTwits

Trane Technologies plc (NYSE:TT) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 1,390,000 shares, a decline of 18.2% from the March 31st total of 1,700,000 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is presently 1.3 days.

TT traded down $0.03 during trading hours on Tuesday, hitting $174.72. 960,288 shares of the stock were exchanged, compared to its average volume of 1,123,346. The stock has a market cap of $41.78 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The stock has a 50-day simple moving average of $168.81 and a 200-day simple moving average of $151.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.67 and a quick ratio of 1.38. Trane Technologies has a 12 month low of $73.73 and a 12 month high of $177.20.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 4th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.11. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Trane Technologies’s revenue for the quarter was down .2% compared to the same quarter last year. Sell-side analysts expect that Trane Technologies will post 4.29 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, June 4th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.35%. Trane Technologies’s payout ratio is currently 37.05%.

In other Trane Technologies news, EVP Marcia J. Avedon sold 2,737 shares of the business’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $147.16, for a total transaction of $402,776.92. Also, SVP Keith A. Sultana sold 4,914 shares of the company’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $150.32, for a total value of $738,672.48. Following the completion of the sale, the senior vice president now directly owns 16,561 shares of the company’s stock, valued at approximately $2,489,449.52. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Evolution Wealth Advisors LLC grew its stake in Trane Technologies by 239.1% during the 1st quarter. Evolution Wealth Advisors LLC now owns 156 shares of the company’s stock worth $26,000 after buying an additional 110 shares during the last quarter. Manchester Financial Inc. grew its position in shares of Trane Technologies by 310.5% during the first quarter. Manchester Financial Inc. now owns 156 shares of the company’s stock worth $26,000 after acquiring an additional 118 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new position in Trane Technologies during the 1st quarter valued at about $28,000. Sterling Financial Planning Inc. bought a new position in Trane Technologies in the 4th quarter worth about $26,000. Finally, Arkadios Wealth Advisors increased its stake in shares of Trane Technologies by 180.0% in the fourth quarter. Arkadios Wealth Advisors now owns 182 shares of the company’s stock valued at $26,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of Trane Technologies from $173.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, April 13th. Zacks Investment Research downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 13th. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $137.00 to $145.00 and gave the company a “sector perform” rating in a research report on Monday, February 8th. They noted that the move was a valuation call. Morgan Stanley lifted their target price on Trane Technologies from $168.00 to $187.00 and gave the stock an “overweight” rating in a research report on Monday, April 19th. Finally, Credit Suisse Group increased their price target on Trane Technologies from $158.00 to $166.00 and gave the company an “outperform” rating in a report on Monday, February 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $143.63.

Trane Technologies Company Profile

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

Further Reading: Dividend Reinvestment Plan (DRIP)

Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.