Trane Technologies plc $TT Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 18.6% during the fourth quarter, HoldingsChannel reports. The firm owned 820,768 shares of the company’s stock after selling 187,094 shares during the period. Deutsche Bank AG’s holdings in Trane Technologies were worth $319,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Portfolio Design Labs LLC lifted its stake in shares of Trane Technologies by 3.5% during the fourth quarter. Portfolio Design Labs LLC now owns 2,523 shares of the company’s stock worth $982,000 after purchasing an additional 85 shares in the last quarter. Pettyjohn Wood & White Inc. lifted its stake in shares of Trane Technologies by 11.9% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 1,247 shares of the company’s stock worth $485,000 after acquiring an additional 133 shares in the last quarter. Westerkirk Capital Inc. lifted its stake in shares of Trane Technologies by 94.8% in the fourth quarter. Westerkirk Capital Inc. now owns 7,052 shares of the company’s stock worth $2,745,000 after acquiring an additional 3,431 shares in the last quarter. BLI Banque de Luxembourg Investments lifted its stake in shares of Trane Technologies by 45.9% in the fourth quarter. BLI Banque de Luxembourg Investments now owns 12,400 shares of the company’s stock worth $4,860,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC lifted its stake in shares of Trane Technologies by 38.9% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 1,421 shares of the company’s stock worth $553,000 after acquiring an additional 398 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was 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. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 4.4%

NYSE:TT opened at $449.96 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $462.00 and a 200-day moving average of $432.62. The firm has a market capitalization of $99.46 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.45 EPS. Analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Barclays boosted their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

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.