Munro Partners Sells 1,170 Shares of Trane Technologies plc $TT

Munro Partners lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,895 shares of the company’s stock after selling 1,170 shares during the quarter. Munro Partners’ holdings in Trane Technologies were worth $6,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Tucker Asset Management LLC bought a new stake in Trane Technologies during the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies during the 4th quarter valued at about $32,000. JPL Wealth Management LLC acquired a new position in Trane Technologies during the 3rd quarter valued at about $32,000. Creative Financial Designs Inc. ADV lifted its position in Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after purchasing an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in Trane Technologies during the 3rd quarter valued at about $42,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was 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 represents a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $472.54 on Tuesday. The company has a market capitalization of $104.45 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.11 and a beta of 1.20. The firm’s 50 day simple moving average is $464.34 and its 200 day simple moving average is $433.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

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

Trane Technologies Announces Dividend

The business 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 dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TT. Royal Bank Of Canada upped 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 report on Friday, May 1st. Sanford C. Bernstein began coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price on the stock. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Citigroup upped their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, KeyCorp upped their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

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.