Trivium Point Advisory LLC Trims Position in Trane Technologies plc $TT

Trivium Point Advisory LLC reduced its position in Trane Technologies plc (NYSE:TT) by 44.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,592 shares of the company’s stock after selling 6,135 shares during the period. Trivium Point Advisory LLC’s holdings in Trane Technologies were worth $3,204,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TT. Norges Bank purchased a new stake in shares of Trane Technologies in the second quarter valued at $1,356,065,000. JPMorgan Chase & Co. boosted its stake in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Trane Technologies by 229.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after buying an additional 1,220,388 shares during the period. ABN AMRO Bank N.V. acquired a new position in shares of Trane Technologies during the 2nd quarter valued at about $291,206,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after acquiring an additional 423,090 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Oppenheimer boosted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Wednesday, January 7th. UBS Group lowered their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $484.67.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elizabeth A. Elwell sold 137 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total value of $63,359.76. Following the transaction, the chief accounting officer owned 7,100 shares of the company’s stock, valued at approximately $3,283,608. This trade represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,936 shares of company stock worth $4,133,991 in the last quarter. Company insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $461.71 on Friday. The firm has a fifty day simple moving average of $417.67 and a 200-day simple moving average of $416.71. The company has a market capitalization of $102.19 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.41 and a beta of 1.21. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.61 EPS. Equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.05 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

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.