Janus Henderson Group PLC Trims Position in Trane Technologies plc $TT

Janus Henderson Group PLC lessened its stake in Trane Technologies plc (NYSE:TT) by 4.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,697,481 shares of the company’s stock after selling 71,764 shares during the quarter. Janus Henderson Group PLC’s holdings in Trane Technologies were worth $660,680,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fiduciary Family Office LLC increased its stake in Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after buying an additional 23 shares during the period. Foster Dykema Cabot & Partners LLC increased its position in Trane Technologies by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock valued at $93,000 after purchasing an additional 23 shares during the period. Bridgewater Advisors Inc. increased its position in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after purchasing an additional 24 shares during the period. West Family Investments Inc. increased its position in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after purchasing an additional 24 shares during the period. Finally, Cresset Asset Management LLC increased its position in Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.6%

TT stock opened at $472.61 on Thursday. The firm has a 50 day moving average of $466.16 and a 200 day moving average of $434.44. The stock has a market capitalization of $104.47 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.45 EPS. Sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. KeyCorp raised their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays raised their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred 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 owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% 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. 0.43% of the stock is owned by company insiders.

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.