Trane Technologies plc $TT Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. decreased its stake in Trane Technologies plc (NYSE:TT) by 21.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 40,933 shares of the company’s stock after selling 10,884 shares during the quarter. Trane Technologies makes up 4.1% of Walter Public Investments Inc.’s holdings, making the stock its 6th largest holding. Walter Public Investments Inc.’s holdings in Trane Technologies were worth $17,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of TT. Aptus Capital Advisors LLC raised its position in Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after acquiring an additional 9,276 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after acquiring an additional 72,998 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Trane Technologies by 64.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after purchasing an additional 2,917 shares during the last quarter. Dara Capital US Inc. acquired a new position in shares of Trane Technologies during the 4th quarter worth about $966,000. Finally, Korea Investment CORP raised its holdings in shares of Trane Technologies by 17.5% in the 3rd 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 period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of several recent analyst reports. 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. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Sanford C. Bernstein initiated coverage on Trane Technologies in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price objective for the company. Citigroup boosted their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Stock Down 0.1%

Trane Technologies stock opened at $477.76 on Friday. The company’s 50-day moving average price is $470.69 and its two-hundred day moving average price is $440.93. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock has a market cap of $105.61 billion, a P/E ratio of 36.95, a P/E/G ratio of 2.20 and a beta of 1.19. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.45 earnings per share. As a group, analysts expect that Trane Technologies plc will post 14.9 EPS for the current 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 given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

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.