Trane Technologies (NYSE:TT) Director John Hayes Purchases 400 Shares

Trane Technologies plc (NYSE:TT) Director John Hayes bought 400 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $430.44 per share, with a total value of $172,176.00. Following the completion of the transaction, the director owned 400 shares of the company’s stock, 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 is available through this link.

Trane Technologies Stock Up 2.5%

Shares of NYSE:TT traded up $11.32 during midday trading on Tuesday, hitting $470.24. 1,602,524 shares of the company’s stock were exchanged, compared to its average volume of 1,504,755. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a 50 day moving average price of $459.88 and a 200-day moving average price of $431.82. The company has a market cap of $103.95 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47.

Trane Technologies (NYSE:TT) last posted its 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. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 earnings per share. On average, sell-side analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TT. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $1,163,124,000. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. Capital International Investors purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $324,639,000. Amundi lifted its stake in shares of Trane Technologies by 47.8% during the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after buying an additional 703,018 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Trane Technologies by 536.6% during the 1st quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock valued at $221,763,000 after buying an additional 448,547 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TT shares. Citigroup upped their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. KeyCorp upped their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Royal Bank Of Canada upped their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $506.56.

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.