Trane Technologies plc $TT Stock Holdings Lifted by Banque Transatlantique SA

Banque Transatlantique SA increased its position in shares of Trane Technologies plc (NYSE:TT) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 65,522 shares of the company’s stock after acquiring an additional 1,542 shares during the quarter. Banque Transatlantique SA’s holdings in Trane Technologies were worth $25,566,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Trane Technologies by 22.4% in 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 in the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Trane Technologies in the second quarter worth approximately $227,000. Nebula Research & Development LLC boosted its holdings in shares of 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 boosted its holdings in shares of 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. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the 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 transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 the firm’s stock in a transaction dated 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 owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. 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. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $483.88 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $106.96 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a 50 day moving average price of $467.20 and a two-hundred day moving average price of $434.88.

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

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TT shares. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. KeyCorp lifted 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. Citigroup boosted 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Sanford C. Bernstein began coverage on Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies 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.