Trane Technologies plc (NYSE:TT) Position Reduced by LGT Group Foundation

LGT Group Foundation lowered its stake in Trane Technologies plc (NYSE:TT) by 41.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 65,911 shares of the company’s stock after selling 45,722 shares during the period. LGT Group Foundation’s holdings in Trane Technologies were worth $16,070,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after purchasing an additional 436,997 shares during the last quarter. Xponance Inc. lifted its position in shares of Trane Technologies by 18.6% in the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after buying an additional 6,869 shares during the last quarter. CHICAGO TRUST Co NA boosted its holdings in shares of Trane Technologies by 2.1% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after buying an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Trane Technologies by 60.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after acquiring an additional 42,409 shares during the period. Finally, Wealth Effects LLC bought a new position in Trane Technologies in the fourth quarter worth about $239,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE TT traded down $0.32 during trading hours on Thursday, reaching $314.66. 330,864 shares of the company’s stock were exchanged, compared to its average volume of 1,022,367. The firm has a fifty day moving average of $294.39 and a 200-day moving average of $256.74. Trane Technologies plc has a one year low of $162.04 and a one year high of $327.09. The stock has a market cap of $71.29 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating 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 return on equity of 32.78% and a net margin of 11.81%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 earnings per share. On average, equities research analysts predict that Trane Technologies plc will post 10.49 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insiders Place Their Bets

In other news, SVP Keith A. Sultana sold 1,983 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,237 shares of company stock valued at $8,024,534. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TT shares. Stephens raised their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday. Robert W. Baird boosted their price target on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday. Mizuho lifted their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup upped their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $292.15.

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.