Trane Technologies plc $TT Stock: Danske Bank A S Raises Position

Danske Bank A S boosted its holdings in shares of Trane Technologies plc (NYSE:TT) by 26.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 262,745 shares of the company’s stock after buying an additional 55,008 shares during the period. Danske Bank A S owned approximately 0.12% of Trane Technologies worth $118,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Advisory LLC increased its stake in Trane Technologies by 3.0% in the 3rd quarter. Cornerstone Advisory LLC now owns 1,761 shares of the company’s stock worth $796,000 after acquiring an additional 51 shares during the last quarter. Condor Capital Management boosted its position in shares of Trane Technologies by 0.6% during the 3rd quarter. Condor Capital Management now owns 15,231 shares of the company’s stock valued at $6,885,000 after acquiring an additional 94 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Trane Technologies by 0.6% during the third quarter. Diversified Trust Co now owns 6,679 shares of the company’s stock worth $3,018,000 after purchasing an additional 38 shares in the last quarter. Cornerstone Advisors LLC purchased a new position in shares of Trane Technologies during the third quarter worth about $5,697,000. Finally, Allworth Financial LP grew its holdings in shares of Trane Technologies by 227.4% during the third quarter. Allworth Financial LP now owns 20,654 shares of the company’s stock worth $10,145,000 after purchasing an additional 14,345 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer directly owned 96,951 shares in the company, valued at $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Trading Down 1.5%

Shares of TT traded down $6.26 during mid-day trading on Friday, reaching $417.79. The company’s stock had a trading volume of 1,164,075 shares, compared to its average volume of 1,695,128. The stock has a market cap of $91.46 billion, a PE ratio of 29.51, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The company’s fifty day moving average price is $443.51 and its two-hundred day moving average price is $455.21.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, beating the consensus estimate of $4.74 by $0.12. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.88 EPS. On average, analysts predict that Trane Technologies plc will post 15.29 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 4th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio is presently 29.66%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Argus set a $500.00 price target on shares of Trane Technologies in a research note on Friday, October 30th. JPMorgan Chase & Co. decreased their price target on shares of Trane Technologies from $550.00 to $480.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore raised their price objective on shares of Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada cut their target price on shares of Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating for the company in a research report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $531.22.

Trane Technologies Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.