Trane Technologies (NYSE:TT) CFO Sells $3,878,550.00 in Stock

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

Trane Technologies Stock Performance

NYSE TT traded up $9.85 during trading hours on Thursday, reaching $459.32. The company’s stock had a trading volume of 1,155,146 shares, compared to its average volume of 1,592,433. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $439.37 and a 200 day simple moving average of $418.83. Trane Technologies plc has a 52 week low of $318.08 and a 52 week high of $479.37. The stock has a market cap of $101.66 billion, a PE ratio of 35.39, a PEG ratio of 2.25 and a beta of 1.21.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the company posted $2.61 earnings per share. Trane Technologies’s revenue was up 5.6% on a year-over-year basis. Equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Old North State Trust LLC increased its stake in shares of Trane Technologies by 21.3% during the fourth quarter. Old North State Trust LLC now owns 1,710 shares of the company’s stock valued at $666,000 after acquiring an additional 300 shares during the period. Stance Capital LLC acquired a new position in shares of Trane Technologies during the fourth quarter valued at approximately $2,582,000. Rockefeller Capital Management L.P. increased its stake in shares of Trane Technologies by 2.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 22,279 shares of the company’s stock valued at $8,671,000 after acquiring an additional 598 shares during the period. Corient Private Wealth LLC increased its stake in shares of Trane Technologies by 11.2% during the fourth quarter. Corient Private Wealth LLC now owns 383,000 shares of the company’s stock valued at $149,163,000 after acquiring an additional 38,437 shares during the period. Finally, Pure Financial Advisors LLC increased its stake in shares of Trane Technologies by 14.2% during the fourth quarter. Pure Financial Advisors LLC now owns 1,247 shares of the company’s stock valued at $485,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TT. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. KeyCorp raised 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. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a report on Wednesday, January 7th. Barclays lifted their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Oppenheimer lifted their price target on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $484.67.

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.