Arax Advisory Partners Sells 7,822 Shares of Trane Technologies plc $TT

Arax Advisory Partners trimmed its holdings in Trane Technologies plc (NYSE:TT) by 51.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,343 shares of the company’s stock after selling 7,822 shares during the period. Arax Advisory Partners’ holdings in Trane Technologies were worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TT. Norges Bank bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $1,163,124,000. JPMorgan Chase & Co. increased its position in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. Capital International Investors bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $324,639,000. Corient Private Wealth LLC lifted its position in shares of Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Trane Technologies by 13,460.8% in the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.1%

Shares of TT stock opened at $457.69 on Monday. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm has a market capitalization of $101.17 billion, a PE ratio of 35.40, a P/E/G ratio of 2.11 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock’s 50-day simple moving average is $463.44 and its 200-day simple moving average is $433.30.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm 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 company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 earnings per share. Equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Sanford C. Bernstein began coverage on Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective on the stock. Citigroup boosted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. KeyCorp lifted their price target 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $509.12.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their position. 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 Trane Technologies stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

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.