ABN AMRO Bank N.V. Sells 169,197 Shares of Trane Technologies plc $TT

ABN AMRO Bank N.V. cut its holdings in Trane Technologies plc (NYSE:TT) by 25.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 502,446 shares of the company’s stock after selling 169,197 shares during the quarter. Trane Technologies comprises 2.3% of ABN AMRO Bank N.V.’s holdings, making the stock its 11th biggest position. ABN AMRO Bank N.V.’s holdings in Trane Technologies were worth $211,573,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at about $32,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the third quarter valued at about $32,000. Kemnay Advisory Services Inc. acquired a new position in shares of Trane Technologies during the fourth quarter worth about $34,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after buying an additional 49 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TT shares. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. KeyCorp raised their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada lifted their price objective 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. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective on the stock. Finally, Sanford C. Bernstein started coverage on shares of Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Price Performance

Shares of NYSE TT opened at $478.08 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 business’s 50 day moving average price is $469.89 and its two-hundred day moving average price is $437.98. The company has a market cap of $105.68 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the firm posted $2.45 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Dividend Announcement

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

Insiders Place Their Bets

In other Trane Technologies 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 completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This 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. 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.