Evan M. Turtz Sells 318 Shares of Trane Technologies plc (NYSE:TT) Stock

Trane Technologies plc (NYSE:TT) SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Trane Technologies Price Performance

Trane Technologies stock opened at $361.80 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $381.60 and a 200 day moving average price of $378.14. Trane Technologies plc has a 12-month low of $265.37 and a 12-month high of $422.00. The stock has a market cap of $81.41 billion, a P/E ratio of 32.16, a PEG ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is currently 29.87%.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. Mizuho lifted their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $415.25.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently modified their holdings of the business. Tidal Investments LLC raised its holdings in Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock valued at $6,152,000 after buying an additional 2,874 shares during the period. Synovus Financial Corp increased its position in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock valued at $3,431,000 after acquiring an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $468,000. HB Wealth Management LLC raised its stake in shares of Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after acquiring an additional 711 shares during the period. Finally, GDS Wealth Management lifted its holdings in shares of Trane Technologies by 4.3% in the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,124 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Trane Technologies

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.