Trane Technologies plc (NYSE:TT) CEO Sells $9,460,812.50 in Stock

Trane Technologies plc (NYSE:TT) CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Trane Technologies Price Performance

TT stock traded up $0.57 on Wednesday, reaching $323.48. 1,154,962 shares of the company’s stock were exchanged, compared to its average volume of 1,136,620. The stock has a fifty day moving average of $331.08 and a 200-day moving average of $307.40. The firm has a market cap of $73.00 billion, a PE ratio of 34.50, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $351.41.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the company posted $2.68 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts predict that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.04%. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

TT has been the topic of several research reports. UBS Group raised their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Mizuho lifted their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday. The Goldman Sachs Group lifted their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird increased their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $323.29.

Institutional Investors Weigh In On Trane Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Motco purchased a new position in Trane Technologies during the 4th quarter valued at about $27,000. Sachetta LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC increased its stake in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Trane Technologies during the 1st quarter worth approximately $27,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Trane Technologies in the 1st quarter valued at approximately $30,000. 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.