Key Points
- Director John Hayes bought 400 shares of Trane Technologies at an average price of $430.44, a transaction worth $172,176, and now directly owns 400 shares.
- Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion, up 6% year over year.
- The company declared a quarterly dividend of $1.05 per share, payable September 30, representing an annualized dividend of $4.20 and a yield of 0.9%.
Trane Technologies plc (NYSE:TT - Get Free Report) Director John Hayes purchased 400 shares of the stock in a transaction on Thursday, March 5th. The shares were purchased at an average price of $430.44 per share, with a total value of $172,176.00. Following the acquisition, the director directly owned 400 shares in the company, valued at $172,176. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Trane Technologies Trading Up 2.5%
NYSE TT opened at $470.24 on Wednesday. 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 plc has a 52 week low of $348.06 and a 52 week high of $503.47. The stock has a market capitalization of $103.95 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. The firm has a 50 day moving average of $461.08 and a two-hundred day moving average of $432.27.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping 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 company had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter in the previous year, the business posted $2.45 EPS. The firm's revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's payout ratio is 32.48%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Wilkerson Advisory Group LLC boosted its holdings in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after buying an additional 34 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $25,000. JPL Wealth Management LLC purchased a new stake in Trane Technologies in the 3rd quarter valued at $32,000. Physician Wealth Advisors Inc. raised its position in Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in Trane Technologies in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on TT. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Sanford C. Bernstein started coverage on shares of Trane Technologies in a report on Tuesday. They issued an "outperform" rating for the company. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Finally, Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $506.56.
Get Our Latest Analysis on TT
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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