TD Asset Management Inc Cuts Stock Position in Trane Technologies plc $TT

TD Asset Management Inc lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 638,398 shares of the company’s stock after selling 127,777 shares during the period. TD Asset Management Inc’s holdings in Trane Technologies were worth $248,465,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tucker Asset Management LLC purchased a new stake in Trane Technologies during the 4th quarter worth approximately $25,000. United Community Bank grew its position in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Trane Technologies during the 3rd quarter worth approximately $32,000. Creative Financial Designs Inc. ADV grew its position in Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Trane Technologies during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $465.72 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a 50 day simple moving average of $457.72 and a two-hundred day simple moving average of $430.83. The stock has a market cap of $102.95 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.11 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the previous year, the business posted $2.45 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is currently 32.48%.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. The trade was a 8.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 53,654 shares of company stock valued at $23,269,523. 0.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. Evercore initiated coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. Citigroup boosted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted 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. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $506.56.

Trane Technologies Company 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.