Axa S.A. Sells 45,641 Shares of Trane Technologies plc (NYSE:TT)

Axa S.A. decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 29.5% in the 4th quarter, Holdings Channel reports. The fund owned 108,890 shares of the company’s stock after selling 45,641 shares during the quarter. Axa S.A.’s holdings in Trane Technologies were worth $40,219,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sound Income Strategies LLC grew its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in Trane Technologies in the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in Trane Technologies in the 4th quarter valued at $39,000. BankPlus Trust Department bought a new stake in Trane Technologies during the 4th quarter worth about $45,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $55,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TT. Melius Research reiterated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. UBS Group cut their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a report on Thursday. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. Finally, HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $421.07.

Trane Technologies Price Performance

Trane Technologies stock opened at $399.68 on Friday. The company has a market capitalization of $89.14 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $422.00. The stock’s 50 day moving average is $344.26 and its 200-day moving average is $372.04.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Trane Technologies’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 earnings per share. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,805 shares of company stock worth $3,945,082. 0.38% of the stock is currently owned by corporate insiders.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.