Aberdeen Group plc Trims Stake in Trane Technologies plc $TT

Aberdeen Group plc lowered its holdings in Trane Technologies plc (NYSE:TT) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 425,554 shares of the company’s stock after selling 6,508 shares during the period. Aberdeen Group plc’s holdings in Trane Technologies were worth $178,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ethic Inc. lifted its holdings in shares of Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock worth $11,601,000 after acquiring an additional 1,672 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Trane Technologies in the 3rd quarter worth $6,571,000. Nordea Investment Management AB lifted its stake in Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC purchased a new stake in Trane Technologies during the third quarter valued at about $9,546,000. Finally, Compass Wealth Management LLC grew its stake in shares of Trane Technologies by 3,785.4% during the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after buying an additional 26,498 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TT shares. JPMorgan Chase & Co. increased their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. UBS Group cut their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada increased their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 5,588 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,936 shares of company stock valued at $4,133,991. 0.14% of the stock is currently owned by insiders.

Trane Technologies Stock Up 1.0%

Shares of Trane Technologies stock opened at $465.04 on Friday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a market cap of $102.93 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.45 and a beta of 1.21. The firm’s 50-day moving average is $403.90 and its two-hundred day moving average is $414.44.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $2.61 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

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.