Christopher Kuehn Sells 8,619 Shares of Trane Technologies (NYSE:TT) Stock

Trane Technologies plc (NYSE:TT) CFO Christopher Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trane Technologies Trading Up 1.2%

NYSE TT opened at $465.67 on Friday. The business has a 50 day simple moving average of $440.95 and a 200 day simple moving average of $419.52. Trane Technologies plc has a one year low of $318.08 and a one year high of $479.37. The stock has a market capitalization of $103.07 billion, a P/E ratio of 35.88, a P/E/G ratio of 2.42 and a beta of 1.21. 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 (NYSE:TT) last released its 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 during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the firm posted $2.61 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Institutional Investors Weigh In On Trane Technologies

Hedge funds have recently added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new stake in Trane Technologies in the third quarter valued at approximately $25,000. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $25,000. United Community Bank grew its stake in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the third quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research note on Wednesday, January 7th. Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. UBS Group decreased their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Oppenheimer raised their price objective on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $484.67.

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.