Insider Buying: Trane Technologies (NYSE:TT) Director Buys 400 Shares of Stock

Key Points

• Trane Technologies director John Hayes bought 400 shares on March 5 at an average price of $430.44, a transaction worth $172,176, according to an SEC filing.
• The stock was trading up 2.5% to $470.24, near its 50-day and 200-day moving averages, with a market cap of about $103.95 billion.
• Trane Technologies reported better-than-expected quarterly earnings of $2.63 per share on revenue of $4.97 billion, and it also announced a quarterly dividend of $1.05 per share.

Trane Technologies plc (NYSE:TT - Get Free Report) Director John Hayes purchased 400 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $430.44 per share, with a total value of $172,176.00. Following the purchase, the director directly owned 400 shares of the company's stock, valued at approximately $172,176. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Trane Technologies Trading Up 2.5%

Shares of TT stock traded up $11.32 during trading hours on Tuesday, hitting $470.24. 1,602,524 shares of the company's stock traded hands, compared to its average volume of 1,504,755. The stock's 50 day simple moving average is $459.88 and its 200 day simple moving average is $431.82. The stock has a market cap of $103.95 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the firm earned $2.45 earnings per share. The company's revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

Analyst Ratings Changes

TT has been the subject of a number of analyst reports. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an "outperform" rating and a $550.00 target price for the company. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a research note on Tuesday. They set an "outperform" rating for the company. Citigroup lifted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Barclays lifted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $506.56.

Institutional Investors Weigh In On Trane Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of TT. Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at $1,163,124,000. JPMorgan Chase & Co. increased its stake in Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. Capital International Investors bought a new stake in Trane Technologies in the fourth quarter valued at $324,639,000. Amundi increased its stake in Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company's stock valued at $906,158,000 after purchasing an additional 703,018 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Trane Technologies by 536.6% during the first quarter. First Trust Advisors LP now owns 532,138 shares of the company's stock worth $221,763,000 after acquiring an additional 448,547 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

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.

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