Nilsine Partners LLC Lowers Holdings in Trane Technologies plc (NYSE:TT)

Nilsine Partners LLC decreased its stake in Trane Technologies plc (NYSE:TT) by 0.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,446 shares of the company’s stock after selling 52 shares during the quarter. Nilsine Partners LLC’s holdings in Trane Technologies were worth $2,172,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter valued at $1,117,816,000. GAMMA Investing LLC grew its holdings in Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company’s stock worth $679,161,000 after acquiring an additional 2,010,123 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Trane Technologies in the 4th quarter worth $611,322,000. Northern Trust Corp grew its holdings in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Trane Technologies in the 4th quarter worth about $147,251,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Down 0.1%

Shares of Trane Technologies stock opened at $419.25 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $436.61. The firm has a market capitalization of $93.50 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.76 and a beta of 1.16. The firm’s 50 day simple moving average is $401.13 and its two-hundred day simple moving average is $377.22.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 earnings per share. Analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s payout ratio is 31.28%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TT shares. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Barclays reduced their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Robert W. Baird lifted their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Citigroup boosted their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.47.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.

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.