Trane Technologies plc $TT Stake Trimmed by Swiss National Bank

Swiss National Bank lowered its stake in Trane Technologies plc (NYSE:TT) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 609,743 shares of the company’s stock after selling 33,060 shares during the quarter. Swiss National Bank owned approximately 0.28% of Trane Technologies worth $237,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $25,000. JPL Wealth Management LLC acquired a new stake in Trane Technologies during the 3rd quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $32,000. Creative Financial Designs Inc. ADV boosted 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 worth $35,000 after acquiring an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in Trane Technologies during the 3rd quarter worth about $42,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’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 value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of research reports. KeyCorp raised their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays lifted their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. Finally, Citigroup lifted their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Two investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Stock Up 2.4%

TT opened at $459.89 on Friday. The business has a 50 day moving average price of $462.86 and a 200 day moving average price of $432.97. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a market cap of $101.66 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.20.

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

Trane Technologies Dividend Announcement

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

Trane Technologies 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.