BNP Paribas Financial Markets Acquires 75,914 Shares of Trane Technologies plc $TT

BNP Paribas Financial Markets lifted its position in Trane Technologies plc (NYSE:TT) by 27.9% during the 4th quarter, Holdings Channel reports. The firm owned 348,144 shares of the company’s stock after acquiring an additional 75,914 shares during the period. BNP Paribas Financial Markets’ holdings in Trane Technologies were worth $135,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new position in shares of Trane Technologies in the fourth quarter worth approximately $25,000. United Community Bank grew its holdings in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter worth approximately $32,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies in the third quarter worth approximately $42,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $451.68 on Monday. The stock has a market cap of $99.84 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. The firm’s fifty day simple moving average is $455.43 and its 200 day simple moving average is $430.02. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

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

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. KeyCorp raised 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. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. One research analyst has 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’s stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $506.56.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at $27,259,200. This represents a 12.46% decrease in their position. 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. Over the last three months, insiders sold 53,654 shares of company stock worth $23,269,523. Corporate insiders own 0.43% of the company’s stock.

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.