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

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

Trane Technologies Stock Performance

Shares of TT stock traded up $4.11 during mid-day trading on Tuesday, reaching $364.55. 1,753,618 shares of the company’s stock traded hands, compared to its average volume of 1,536,508. Trane Technologies plc has a 12 month low of $265.37 and a 12 month high of $422.00. The firm has a 50 day moving average price of $382.56 and a two-hundred day moving average price of $377.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market capitalization of $82.03 billion, a PE ratio of 32.40, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Hedge Funds Weigh In On Trane Technologies

A number of hedge funds have recently added to or reduced their stakes in TT. Modern Wealth Management LLC boosted its stake in shares of Trane Technologies by 59.9% during the fourth quarter. Modern Wealth Management LLC now owns 3,060 shares of the company’s stock valued at $1,103,000 after purchasing an additional 1,146 shares in the last quarter. Congress Wealth Management LLC DE purchased a new position in shares of Trane Technologies in the fourth quarter worth $736,000. Vanguard Group Inc. raised its holdings in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after buying an additional 152,353 shares during the last quarter. Stevens Capital Management LP raised its holdings in shares of Trane Technologies by 134.0% during the fourth quarter. Stevens Capital Management LP now owns 1,301 shares of the company’s stock worth $481,000 after purchasing an additional 745 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Trane Technologies by 30.4% during the fourth quarter. LPL Financial LLC now owns 201,404 shares of the company’s stock worth $74,389,000 after purchasing an additional 46,983 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group reduced their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Northcoast Research began coverage on Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target on the stock. Royal Bank of Canada boosted 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. Finally, Wells Fargo & Company dropped their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $415.25.

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.