Key Points
- Elizabeth Elwell sold 635 shares of Trane Technologies at an average price of $422.70 on March 6 for $268,414.50, reducing her stake by 8.21% to 7,100 shares (about $3.0M).
- Trane beat quarterly estimates with $2.86 EPS and $5.14 billion in revenue (revenue up 5.6% year-over-year); the stock carries a market cap of roughly $94.7 billion and a P/E near 33.
- The company increased its quarterly dividend to $1.05 (annualized $4.20, ~1.0% yield, ex-dividend March 6), and analysts maintain a "Moderate Buy" consensus with an average price target of $484.67.
Trane Technologies plc (NYSE:TT - Get Free Report) CAO Elizabeth Elwell sold 635 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Trane Technologies Stock Up 1.1%
Shares of Trane Technologies stock opened at $427.89 on Tuesday. The firm has a market cap of $94.70 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.23 and a beta of 1.19. The stock's 50-day moving average is $423.43 and its 200 day moving average is $417.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company's revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.61 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.
Trane Technologies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is an increase from Trane Technologies's previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies's dividend payout ratio (DPR) is currently 32.36%.
Wall Street Analyst Weigh In
TT has been the topic of several recent research reports. Melius Research upgraded Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price target on the stock in a report on Wednesday, January 7th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. Barclays raised their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, Bank of America raised Trane Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $490.00 to $550.00 in a report on Thursday, November 13th. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and a consensus price target of $484.67.
Check Out Our Latest Stock Report on TT
Hedge Funds Weigh In On Trane Technologies
Several institutional investors have recently modified their holdings of the business. Financial Consulate Inc. bought a new stake in Trane Technologies during the third quarter worth $25,000. Tucker Asset Management LLC bought a new position in Trane Technologies in the 4th quarter valued at $25,000. Icon Advisers Inc. Co. bought a new position in Trane Technologies in the 2nd quarter valued at $26,000. United Community Bank increased its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after purchasing an additional 43 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $32,000. 82.97% of the stock is owned by institutional investors.
About Trane Technologies
(
Get Free Report)
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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