Freemont Management S.A. Has $701,000 Stake in Trane Technologies plc $TT

Freemont Management S.A. boosted its stake in Trane Technologies plc (NYSE:TT) by 200.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,800 shares of the company’s stock after buying an additional 1,200 shares during the period. Freemont Management S.A.’s holdings in Trane Technologies were worth $701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TT. United Community Bank increased its holdings in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares during the period. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the third quarter valued at $32,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Trane Technologies during the 3rd quarter worth about $42,000. Hantz Financial Services Inc. grew its holdings in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after acquiring an additional 39 shares during the period. Finally, Key Financial Inc grew its holdings in Trane Technologies by 833.3% during the 3rd quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after acquiring an additional 100 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. BNP Paribas Exane assumed 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. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Finally, Wells Fargo & Company increased their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $505.56.

Trane Technologies Stock Performance

Shares of TT opened at $470.52 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a 50-day moving average of $449.02 and a 200-day moving average of $428.20. The company has a market cap of $104.01 billion, a PE ratio of 36.39, a P/E/G ratio of 2.16 and a beta of 1.25. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47.

Trane Technologies (NYSE:TT) last issued 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 during 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% compared to the same quarter last year. During the same period last year, the business posted $2.45 EPS. On average, equities research analysts predict that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This trade represents a 27.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 53,654 shares of company stock valued at $23,269,523. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies 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.