Trane Technologies plc $TT Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,254 shares of the company’s stock after selling 14,256 shares during the period. KBC Group NV’s holdings in Trane Technologies were worth $63,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tucker Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter worth about $25,000. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies during the 4th quarter valued at about $32,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth about $32,000. Physician Wealth Advisors Inc. lifted its stake in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Trane Technologies in the 1st quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT opened at $468.40 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm’s 50 day moving average is $469.73 and its 200-day moving average is $447.90. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The stock has a market capitalization of $103.54 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion during 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%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.45 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. KeyCorp upped 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. Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a research note on Thursday, July 9th. Citigroup lifted their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus target price of $516.67.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

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.