Trane Technologies plc $TT Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 272,230 shares of the company’s stock after selling 1,978 shares during the period. BNP Paribas Financial Markets owned 0.12% of Trane Technologies worth $114,870,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Trane Technologies in the 2nd quarter valued at about $1,356,065,000. JPMorgan Chase & Co. increased its stake in shares of Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Trane Technologies by 229.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock valued at $766,583,000 after purchasing an additional 1,220,388 shares during the period. ABN AMRO Bank N.V. bought a new stake in shares of Trane Technologies during the second quarter valued at approximately $291,206,000. Finally, Corient Private Wealth LLC boosted its position in shares of Trane Technologies by 135.4% during the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after buying an additional 423,090 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $432.30 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a market cap of $95.68 billion, a PE ratio of 33.30, a PEG ratio of 2.28 and a beta of 1.19. The stock’s 50-day moving average price is $425.13 and its two-hundred day moving average price is $417.20.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the company posted $2.61 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th 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, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is presently 32.36%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays raised their target price on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Wells Fargo & Company raised their price target on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Citigroup upped their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Oppenheimer increased their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

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.