Prudential PLC Sells 7,973 Shares of Trane Technologies plc $TT

Prudential PLC trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 54.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,588 shares of the company’s stock after selling 7,973 shares during the period. Prudential PLC’s holdings in Trane Technologies were worth $2,564,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after purchasing an additional 192,270 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Trane Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after buying an additional 14,179 shares during the period. Norges Bank acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $1,163,124,000. Finally, Nordea Investment Management AB raised its position in shares of Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Barclays upped their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, Citigroup lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $506.56.

Trane Technologies Trading Down 0.1%

NYSE:TT opened at $456.51 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The firm has a market capitalization of $100.91 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.10 and a beta of 1.20. The business’s 50-day moving average price is $458.85 and its two-hundred day moving average price is $431.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.45 EPS. On average, equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

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.