Insider Selling: Trane Technologies plc (NYSE:TT) SVP Sells $539,891.58 in Stock

Trane Technologies plc (NYSE:TTGet Free Report) SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Trane Technologies Stock Up 2.0 %

Shares of TT opened at $275.44 on Monday. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $278.81. The firm has a market cap of $62.68 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The firm’s 50-day simple moving average is $247.28 and its 200 day simple moving average is $220.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TTGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the business earned $1.82 EPS. Trane Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Trane Technologies plc will post 10.19 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be paid a $0.84 dividend. The ex-dividend date is Thursday, February 29th. This represents a $3.36 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.75. Trane Technologies’s dividend payout ratio is 34.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC grew its position in shares of Trane Technologies by 30.3% during the 4th quarter. Intech Investment Management LLC now owns 82,618 shares of the company’s stock worth $20,151,000 after purchasing an additional 19,217 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $1,795,000. Skopos Labs Inc. acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $325,000. Team Hewins LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $652,000. Finally, Cypress Asset Management Inc. TX acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $772,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Barclays boosted their price target on shares of Trane Technologies from $222.00 to $226.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Finally, Citigroup boosted their price target on shares of Trane Technologies from $246.00 to $269.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.71.

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About Trane Technologies

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Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Further Reading

Insider Buying and Selling by Quarter for Trane Technologies (NYSE:TT)

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