Christopher Kuehn Sells 2,389 Shares of Trane Technologies (NYSE:TT) Stock

by · The Cerbat Gem

Trane Technologies plc (NYSE:TTGet Free Report) CFO Christopher Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Trane Technologies Trading Up 2.4%

TT stock traded up $10.99 during trading on Wednesday, reaching $472.37. 1,304,623 shares of the stock were exchanged, compared to its average volume of 2,003,896. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The firm has a market capitalization of $104.55 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.42 and a beta of 1.21. The business has a 50 day moving average price of $400.25 and a 200-day moving average price of $414.16. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TTGet Free Report) last issued its quarterly earnings data 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. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the firm earned $2.61 EPS. Trane Technologies’s revenue was up 5.6% on a year-over-year basis. On average, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. Trane Technologies’s payout ratio is currently 28.97%.

Hedge Funds Weigh In On Trane Technologies

Several large investors have recently bought and sold shares of TT. Norges Bank purchased a new stake in Trane Technologies during the second quarter worth approximately $1,356,065,000. JPMorgan Chase & Co. raised its holdings in Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Trane Technologies by 229.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after buying an additional 1,220,388 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock valued at $1,066,845,000 after buying an additional 1,157,405 shares during the last quarter. Finally, Capital International Investors acquired a new position in Trane Technologies in the fourth quarter valued at $324,639,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several research reports. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Citigroup lifted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. UBS Group cut their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Check Out Our Latest Report on TT

Trane Technologies Company Profile

(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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