Trane Technologies plc $TT Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its position in shares of Trane Technologies plc (NYSE:TT) by 8.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,738 shares of the company’s stock after selling 1,271 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Trane Technologies were worth $5,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Bell Investment Advisors Inc raised its position in shares of Trane Technologies by 12.2% during the 1st quarter. Bell Investment Advisors Inc now owns 203 shares of the company’s stock valued at $85,000 after acquiring an additional 22 shares in the last quarter. Fiduciary Family Office LLC boosted its holdings in shares of Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after buying an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC boosted its holdings in shares of Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after buying an additional 23 shares during the period. West Family Investments Inc. grew its position in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after buying an additional 24 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after acquiring an additional 24 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TT. Royal Bank Of Canada lifted their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Barclays raised their price target on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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

Shares of NYSE:TT opened at $482.65 on Thursday. The firm’s 50 day moving average is $468.90 and its two-hundred day moving average is $436.97. The firm has a market capitalization of $106.69 billion, a P/E ratio of 37.33, a PEG ratio of 2.19 and a beta of 1.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47.

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

Trane Technologies Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

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.