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

Walter Public Investments Inc. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,161 shares of the company’s stock after selling 5,817 shares during the period. Trane Technologies accounts for approximately 3.3% of Walter Public Investments Inc.’s portfolio, making the stock its 10th largest holding. Walter Public Investments Inc.’s holdings in Trane Technologies were worth $13,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TT. First Command Advisory Services Inc. increased its holdings in Trane Technologies by 17.6% during the 3rd quarter. First Command Advisory Services Inc. now owns 254 shares of the company’s stock worth $115,000 after acquiring an additional 38 shares during the period. Machina Capital S.A.S. lifted its stake in Trane Technologies by 132.6% in the 3rd quarter. Machina Capital S.A.S. now owns 10,639 shares of the company’s stock worth $4,809,000 after purchasing an additional 6,066 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Trane Technologies by 13.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 31,170 shares of the company’s stock worth $14,088,000 after purchasing an additional 3,793 shares in the last quarter. AMG National Trust Bank boosted its holdings in Trane Technologies by 1.6% in the 3rd quarter. AMG National Trust Bank now owns 9,957 shares of the company’s stock valued at $4,500,000 after purchasing an additional 153 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in Trane Technologies by 0.9% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 8,391 shares of the company’s stock valued at $3,792,000 after purchasing an additional 71 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TT has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada lowered their price objective on Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Wall Street Zen lowered Trane Technologies from a “buy” rating to a “hold” rating in a research note on Sunday. BNP Paribas Exane boosted their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Citigroup reduced their target price on Trane Technologies from $566.00 to $549.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $532.21.

Insiders Place Their Bets

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

Trane Technologies Trading Up 0.9%

NYSE TT opened at $424.68 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $444.35 and its two-hundred day simple moving average is $454.94. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a market capitalization of $92.96 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.98 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. The firm had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.88 EPS. Research analysts forecast that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

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.