Short Interest in Trane Technologies plc (NYSE:TT) Decreases By 20.8%

Trane Technologies plc (NYSE:TT) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 2,170,000 shares, a decline of 20.8% from the June 30th total of 2,740,000 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is presently 1.8 days.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $7.49 on Friday, reaching $329.71. 1,232,284 shares of the stock were exchanged, compared to its average volume of 1,436,565. The firm’s 50 day moving average is $332.14 and its 200-day moving average is $303.46. The firm has a market cap of $74.63 billion, a PE ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 1.01. Trane Technologies has a one year low of $184.02 and a one year high of $347.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. As a group, analysts anticipate that Trane Technologies will post 10.49 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Wall Street Analysts Forecast Growth

TT has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Robert W. Baird lifted their target price on shares of Trane Technologies from $344.00 to $360.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Mizuho boosted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $312.36.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Motco bought a new stake in shares of Trane Technologies in the 4th quarter valued at $27,000. Sachetta LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at $27,000. GoalVest Advisory LLC boosted its stake in shares of Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Trane Technologies in the 1st quarter valued at $27,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Trane Technologies in the 1st quarter valued at $30,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.