Burney Co. Sells 14,082 Shares of Trane Technologies plc $TT

Burney Co. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 66.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,999 shares of the company’s stock after selling 14,082 shares during the period. Burney Co.’s holdings in Trane Technologies were worth $2,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Trane Technologies in the fourth quarter worth $1,163,124,000. Capital International Investors bought a new position in Trane Technologies in the fourth quarter valued at about $324,639,000. Corient Private Wealth LLC lifted its holdings in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after acquiring an additional 423,090 shares during the period. SG Americas Securities LLC boosted its position in Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $132,124,000. 82.97% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal 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. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TT. Sanford C. Bernstein assumed coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target for the company. Citigroup boosted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. KeyCorp upped their target price on shares of Trane Technologies from $525.00 to $555.00 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 research report on Monday, April 20th. Finally, Barclays lifted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $512.19.

Trane Technologies Stock Performance

NYSE TT opened at $476.64 on Wednesday. The firm has a market cap of $105.36 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. 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 business has a 50-day moving average price of $470.52 and a 200-day moving average price of $442.56. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the company earned $2.45 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Trane Technologies Company 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.