Swiss National Bank Increases Stake in Trane Technologies plc $TT

Swiss National Bank increased its stake in Trane Technologies plc (NYSE:TT) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,783 shares of the company’s stock after buying an additional 41,040 shares during the period. Swiss National Bank’s holdings in Trane Technologies were worth $271,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Tucker Asset Management LLC bought a new stake in Trane Technologies during the 4th quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the 3rd quarter worth approximately $32,000. Physician Wealth Advisors Inc. lifted its stake in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Frazier Financial Advisors LLC bought a new stake in shares of Trane Technologies during the first quarter valued at approximately $33,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $32,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 1.1%

Trane Technologies stock opened at $469.59 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $469.88 and its two-hundred day simple moving average is $446.98. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a market capitalization of $103.80 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for 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%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value 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 approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TT. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a report on Thursday, July 9th. KeyCorp boosted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $516.67.

Trane Technologies Company Profile

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.