Trane Technologies plc $TT Stock Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,454 shares of the company’s stock after selling 1,460 shares during the period. Park Avenue Securities LLC’s holdings in Trane Technologies were worth $5,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TT. SEB Asset Management AB bought a new stake in shares of Trane Technologies during the 1st quarter worth $47,195,000. Nicholson Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the 1st quarter worth $1,644,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Trane Technologies by 54.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,153 shares of the company’s stock worth $41,321,000 after purchasing an additional 34,930 shares during the period. Kestra Advisory Services LLC raised its position in shares of Trane Technologies by 14.2% during the first quarter. Kestra Advisory Services LLC now owns 26,934 shares of the company’s stock worth $11,224,000 after purchasing an additional 3,348 shares during the period. Finally, KPP Advisory Services LLC purchased a new stake in shares of Trane Technologies during the first quarter valued at $855,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

TT opened at $449.22 on Thursday. The firm has a market capitalization of $98.84 billion, a P/E ratio of 34.03, a PEG ratio of 2.08 and a beta of 1.15. The stock has a fifty day moving average of $451.88 and a 200-day moving average of $453.61. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.27 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.20 billion. Trane Technologies had a return on equity of 35.72% and a net margin of 13.28%. Trane Technologies’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 earnings per share. Equities analysts forecast that Trane Technologies plc will post 15.32 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TT. Robert W. Baird increased their price target on Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Wells Fargo & Company initiated coverage on Trane Technologies in a report on Friday, September 25th. They set an “overweight” rating and a $536.00 price objective on the stock. Citigroup reduced their price objective on shares of Trane Technologies from $570.00 to $566.00 and set a “buy” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $548.00 to $565.00 in a report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Trane Technologies in a report on Friday, October 9th. They issued an “overweight” rating and a $550.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus price target of $539.42.

Insiders Place Their Bets

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares of the company’s stock, valued at $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.