Trane Technologies plc $TT Stock Position Lifted by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its stake in Trane Technologies plc (NYSE:TT) by 30.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,280 shares of the company’s stock after buying an additional 16,054 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Trane Technologies were worth $28,403,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter worth $25,000. Hilton Head Capital Partners LLC acquired a new stake in Trane Technologies during the fourth quarter valued at $32,000. JPL Wealth Management LLC purchased a new position in Trane Technologies in the third quarter valued at about $32,000. Physician Wealth Advisors Inc. grew its stake in Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Trane Technologies in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of several research reports. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Citigroup increased their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. KeyCorp lifted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Barclays boosted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $512.50.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $479.69 on Monday. The stock has a market capitalization of $106.04 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.21 and a beta of 1.19. The business has a 50-day moving average of $470.03 and a two-hundred day moving average of $444.39. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

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

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.