Trane Technologies plc $TT Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. trimmed its holdings in Trane Technologies plc (NYSE:TT) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,872 shares of the company’s stock after selling 4,211 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Trane Technologies were worth $54,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Amundi increased its position in Trane Technologies by 47.8% in the first quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after buying an additional 703,018 shares during the last quarter. First Trust Advisors LP increased its position in shares of Trane Technologies by 536.6% in the first quarter. First Trust Advisors LP now owns 532,138 shares of the company’s stock valued at $221,763,000 after acquiring an additional 448,547 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Trane Technologies by 215.9% during the first quarter. Hsbc Holdings PLC now owns 653,423 shares of the company’s stock valued at $271,950,000 after acquiring an additional 446,598 shares in the last quarter. Sei Investments Co. boosted its position in Trane Technologies by 261.5% during the 1st quarter. Sei Investments Co. now owns 357,337 shares of the company’s stock valued at $148,915,000 after acquiring an additional 258,478 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after purchasing an additional 234,666 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TT shares. Robert W. Baird raised their target price on shares of Trane Technologies from $515.00 to $532.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. BNP Paribas Exane upped their target price on shares of Trane Technologies from $560.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Deutsche Bank dropped their target price on Trane Technologies from $515.00 to $499.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. reduced their price objective on Trane Technologies from $550.00 to $480.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Mizuho raised their target price on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $531.22.

Insider Buying and Selling at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares of the company’s stock, valued at approximately $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Trading Down 1.5%

TT stock opened at $417.79 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The stock has a market cap of $91.46 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.99 and a beta of 1.19. The business’s 50-day moving average is $443.51 and its 200 day moving average is $455.21.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.50 billion. During the same period last year, the company posted $3.88 EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio (DPR) is 29.66%.

Trane Technologies Company Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.