Pictet Asset Management Holding SA Has $804.02 Million Stock Holdings in Trane Technologies plc $TT

Pictet Asset Management Holding SA trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 5.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,929,841 shares of the company’s stock after selling 106,301 shares during the period. Trane Technologies makes up about 0.8% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 17th biggest position. Pictet Asset Management Holding SA owned 0.87% of Trane Technologies worth $804,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new stake in Trane Technologies during the fourth quarter valued at approximately $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $32,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies in the 3rd quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new position in shares of Trane Technologies during the 4th quarter worth approximately $34,000. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after buying an additional 49 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were 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 $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Trane Technologies Trading Down 5.0%

TT stock opened at $478.08 on Friday. The business has a fifty day moving average price of $469.89 and a 200 day moving average price of $437.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The stock has a market capitalization of $105.68 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 2.20 and a beta of 1.20.

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

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TT. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Barclays lifted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. KeyCorp upped their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Citigroup lifted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

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.