J. Safra Sarasin Holding AG Trims Stock Position in Trane Technologies plc (NYSE:TT)

J. Safra Sarasin Holding AG lessened its holdings in Trane Technologies plc (NYSE:TT) by 19.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 61,800 shares of the company’s stock after selling 15,222 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Trane Technologies were worth $20,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its holdings in shares of Trane Technologies by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after purchasing an additional 130,867 shares during the last quarter. Northern Trust Corp boosted its stake in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after buying an additional 429,953 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Trane Technologies by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company’s stock valued at $861,555,000 after buying an additional 37,389 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Trane Technologies by 8.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company’s stock valued at $856,629,000 after buying an additional 177,206 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Trane Technologies by 12.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,076,761 shares of the company’s stock worth $699,702,000 after acquiring an additional 237,905 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. The Goldman Sachs Group increased their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Citigroup increased their price target on shares of Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Trane Technologies in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $455.67.

Trane Technologies Price Performance

Shares of TT stock opened at $439.01 on Friday. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The firm has a market capitalization of $97.68 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.82 and a beta of 1.09. The stock has a 50 day moving average price of $435.56 and a 200 day moving average price of $388.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.30 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

Trane Technologies Profile

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.