Trane Technologies (NYSE:TT) CEO David Regnery Sells 36,045 Shares of Stock

Trane Technologies plc (NYSE:TT) CEO David Regnery sold 36,045 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Trane Technologies Stock Up 1.1%

Trane Technologies stock opened at $427.89 on Tuesday. The company has a market capitalization of $94.70 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The firm has a 50 day moving average price of $423.43 and a 200 day moving average price of $417.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.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 prior year, the firm earned $2.61 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 32.36%.

Analysts Set New Price Targets

TT has been the topic of several research reports. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research note on Wednesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Finally, Oppenheimer upped their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. One equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $484.67.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Icon Advisers Inc. Co. purchased a new stake in shares of Trane Technologies during the 2nd quarter worth $26,000. Financial Consulate Inc. purchased a new position in Trane Technologies in the third quarter valued at $25,000. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $25,000. United Community Bank lifted its holdings in 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 last quarter. Finally, JPL Wealth Management LLC purchased a new stake in Trane Technologies during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors 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.