Trane Technologies plc $TT Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC decreased its position in Trane Technologies plc (NYSE:TT) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 87,916 shares of the company’s stock after selling 2,281 shares during the period. Trane Technologies makes up approximately 1.3% of Trillium Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Trillium Asset Management LLC’s holdings in Trane Technologies were worth $39,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TT. SEB Asset Management AB acquired a new position in Trane Technologies during the 1st quarter worth $47,195,000. First Citizens Bank & Trust Co. grew its stake in shares of Trane Technologies by 178.4% in the third quarter. First Citizens Bank & Trust Co. now owns 6,265 shares of the company’s stock worth $2,832,000 after purchasing an additional 4,015 shares in the last quarter. Saudi Central Bank increased its holdings in shares of Trane Technologies by 89.3% during the second quarter. Saudi Central Bank now owns 15,493 shares of the company’s stock valued at $7,610,000 after purchasing an additional 7,308 shares during the period. California Public Employees Retirement System increased its holdings in shares of Trane Technologies by 51.9% during the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after purchasing an additional 234,666 shares during the period. Finally, NBT Bank N.A. bought a new stake in shares of Trane Technologies during the third quarter valued at about $25,445,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David Regnery sold 48,091 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer directly owned 96,951 shares in the company, valued at approximately $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TT shares. Wells Fargo & Company initiated coverage on shares of Trane Technologies in a report on Friday, September 25th. They issued an “overweight” rating and a $536.00 price objective for the company. Evercore raised their target price on shares of Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Trane Technologies from $550.00 to $480.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank Of Canada reduced their price target on shares of Trane Technologies from $502.00 to $486.00 and set a “sector perform” rating for the company in a research note on Friday, October 30th. Finally, Argus set a $500.00 price target on shares of Trane Technologies in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $531.22.

Trane Technologies Price Performance

NYSE TT traded down $6.26 on Friday, reaching $417.79. The company’s stock had a trading volume of 1,164,075 shares, compared to its average volume of 1,695,128. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.12. The stock has a market cap of $91.46 billion, a PE ratio of 29.51, a PEG ratio of 1.99 and a beta of 1.19. The firm’s 50 day moving average is $443.51 and its two-hundred day moving average is $455.21.

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

Trane Technologies Dividend Announcement

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

About Trane Technologies

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.