Ninety One UK Ltd Lowers Stock Position in Trane Technologies plc (NYSE:TT)

Ninety One UK Ltd decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 28.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,363,603 shares of the company’s stock after selling 545,582 shares during the quarter. Ninety One UK Ltd owned about 0.60% of Trane Technologies worth $332,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter valued at $25,000. Venturi Wealth Management LLC lifted its holdings in Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. Live Oak Investment Partners acquired a new position in Trane Technologies in the 4th quarter worth $30,000. Avior Wealth Management LLC lifted its holdings in Trane Technologies by 58.0% in the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after buying an additional 65 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock traded down $2.23 during trading hours on Thursday, reaching $290.86. The stock had a trading volume of 253,803 shares, compared to its average volume of 991,793. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $306.98. The firm has a 50-day simple moving average of $289.02 and a 200-day simple moving average of $250.01. The firm has a market capitalization of $66.05 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company earned $1.82 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.16%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TT. The Goldman Sachs Group upped their target price on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Barclays upped their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup upped their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stephens upped their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $251.83.

Trane Technologies Profile

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.