Trane Technologies plc $TT Shares Sold by Barclays PLC

Barclays PLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 18.6% during the fourth quarter, Holdings Channel reports. The fund owned 430,572 shares of the company’s stock after selling 98,686 shares during the quarter. Barclays PLC’s holdings in Trane Technologies were worth $167,579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TT. Brighton Jones LLC raised its stake in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its stake in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new position in Trane Technologies during the second quarter worth approximately $227,000. Nebula Research & Development LLC raised its stake in Trane Technologies by 178.0% during the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Trane Technologies by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible 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 Trane Technologies stock in a transaction on 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 in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Citigroup increased their price target 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. Finally, KeyCorp raised their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. 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 given a Sell rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Stock Performance

Shares of TT stock opened at $472.54 on Tuesday. The company’s fifty day simple moving average is $464.34 and its 200-day simple moving average is $433.68. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. 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 company has a market cap of $104.45 billion, a PE ratio of 36.55, a P/E/G ratio of 2.11 and a beta of 1.20.

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

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

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.