Trane Technologies plc $TT Holdings Lifted by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 4.7% during the 3rd quarter, Holdings Channel reports. The fund owned 330,332 shares of the company’s stock after acquiring an additional 14,956 shares during the quarter. Natixis Advisors LLC’s holdings in Trane Technologies were worth $139,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in shares of Trane Technologies by 62.5% during the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,900 shares of the company’s stock valued at $1,646,000 after purchasing an additional 1,500 shares during the period. Korea Investment CORP lifted its stake in Trane Technologies by 17.5% during the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock valued at $86,373,000 after purchasing an additional 30,558 shares during the last quarter. Evexia Wealth LLC lifted its position in shares of Trane Technologies by 2.4% during the 3rd quarter. Evexia Wealth LLC now owns 1,807 shares of the company’s stock valued at $757,000 after acquiring an additional 42 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Trane Technologies during the third quarter valued at $2,000,000. Finally, Trustmark Bank Trust Department lifted its stake in Trane Technologies by 9.0% during the third quarter. Trustmark Bank Trust Department now owns 2,085 shares of the company’s stock valued at $880,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 5,588 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $44,848,144.80. This trade represents a 5.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 3.1%

NYSE TT opened at $423.04 on Friday. The firm has a 50-day simple moving average of $422.75 and a 200 day simple moving average of $417.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The stock has a market cap of $93.63 billion, a PE ratio of 32.59, a PEG ratio of 2.23 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the business posted $2.61 earnings per share. Trane Technologies’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current 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 given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 28.97%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TT. Oppenheimer lifted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $490.00 to $550.00 in a research report on Thursday, November 13th. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a report on Monday, December 15th. Royal Bank Of Canada raised their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Finally, Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

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.