Desjardins Global Asset Management Inc. Sells 351 Shares of Trane Technologies plc (NYSE:TT)

Desjardins Global Asset Management Inc. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,308 shares of the company’s stock after selling 351 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Trane Technologies were worth $563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in Trane Technologies in the 4th quarter valued at about $25,000. Live Oak Investment Partners acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $30,000. Venturi Wealth Management LLC increased its stake in shares of Trane Technologies by 139.7% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares during the period. 1832 Asset Management L.P. acquired a new stake in Trane Technologies during the 1st quarter worth approximately $34,000. Finally, Avior Wealth Management LLC boosted its stake in Trane Technologies by 58.0% in the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 65 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the sale, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 in the last quarter. 0.39% of the stock is owned by insiders.

Trane Technologies Stock Down 0.9 %

Shares of NYSE TT opened at $293.09 on Thursday. The stock has a 50-day moving average price of $289.02 and a two-hundred day moving average price of $250.01. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $306.98. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The company has a market cap of $66.55 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 EPS. As a group, analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TT. The Goldman Sachs Group lifted their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Barclays boosted their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup lifted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada increased their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Stephens lifted their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.