Insider Selling: Trane Technologies plc (NYSE:TT) CEO Sells $830,238.06 in Stock

Trane Technologies plc (NYSE:TT) CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares of the company’s stock, valued at $45,427,059.27. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Trane Technologies Trading Down 0.1 %

TT opened at $361.25 on Friday. Trane Technologies plc has a one year low of $270.50 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business has a 50 day simple moving average of $380.49 and a two-hundred day simple moving average of $378.02. The firm has a market capitalization of $81.29 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.44 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts predict 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. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. Trane Technologies’s payout ratio is presently 29.87%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research reports. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company cut their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. UBS Group decreased their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays upped their price objective on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $415.25.

Hedge Funds Weigh In On Trane Technologies

A number of institutional investors have recently bought and sold shares of the stock. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies during the 4th quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Trane Technologies in the third quarter worth $27,000. DT Investment Partners LLC bought a new position in Trane Technologies in the third quarter worth $36,000. Sound Income Strategies LLC lifted its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

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.