Insider Selling: Trane Technologies (NYSE:TT) Insider Sells 3,762 Shares of Stock

Key Points

• Insider sale: Director Donald Simmons sold 3,762 shares on March 6 at an average of $422.70 for about $1.59 million, cutting his position by 49.62% to 3,819 shares, per an SEC filing.
• Dividend increase: Trane raised its quarterly dividend to $1.05 (from $0.94), an annualized $4.20 (~1.0% yield); the ex-dividend date was March 6 and the payment date is March 31.
• Recent results and analyst view: The company beat estimates with EPS of $2.86 vs. $2.81 and revenue of $5.14B (+5.6% YoY), and the stock carries a consensus "Moderate Buy" rating with an average target of $484.67.

Trane Technologies plc (NYSE:TT - Get Free Report) insider Donald Simmons sold 3,762 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Trane Technologies Stock Up 1.1%

NYSE TT traded up $4.76 on Monday, hitting $427.89. 1,605,563 shares of the stock were exchanged, compared to its average volume of 1,728,949. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a 50-day moving average price of $422.75 and a 200-day moving average price of $416.99. The company has a market cap of $94.70 billion, a PE ratio of 32.97, a PEG ratio of 2.23 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion during the quarter, compared to analysts' expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.61 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. This is an increase from Trane Technologies's previous quarterly dividend of $0.94. Trane Technologies's payout ratio is currently 32.36%.

Analysts Set New Price Targets

TT has been the topic of several recent analyst reports. KeyCorp upgraded shares of Trane Technologies from a "sector weight" rating to an "overweight" rating and set a $500.00 price target on the stock in a research note on Monday, December 15th. Citigroup increased their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a research note on Friday, January 30th. Finally, Melius Research raised Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price objective on the stock in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $484.67.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors have recently modified their holdings of the business. Fiduciary Family Office LLC boosted its stake in Trane Technologies by 1.5% during the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock worth $612,000 after purchasing an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC raised its holdings in shares of Trane Technologies by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock valued at $93,000 after buying an additional 23 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company's stock worth $849,000 after buying an additional 24 shares during the period. Old Port Advisors grew its holdings in shares of Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company's stock worth $328,000 after buying an additional 24 shares during the last quarter. Finally, OneAscent Wealth Management LLC increased its position in Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock valued at $686,000 after acquiring an additional 24 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

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.

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