KBC Group NV Buys 9,192 Shares of Trane Technologies plc $TT

KBC Group NV raised its stake in Trane Technologies plc (NYSE:TT) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,510 shares of the company’s stock after acquiring an additional 9,192 shares during the quarter. KBC Group NV’s holdings in Trane Technologies were worth $64,417,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Financial Consulate Inc. bought a new position in Trane Technologies in the 3rd quarter valued at about $25,000. United Community Bank raised its holdings in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC bought a new position in Trane Technologies in the 3rd quarter valued at about $32,000. Halbert Hargrove Global Advisors LLC raised its holdings in Trane Technologies by 34.2% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Trane Technologies in the 3rd quarter valued at about $42,000. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TT. Evercore began coverage on shares of Trane Technologies in a report on Monday. They issued an “outperform” rating and a $535.00 price target on the stock. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research report on Tuesday. They issued an “outperform” rating and a $550.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. Finally, Citigroup lifted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $491.47.

Trane Technologies Stock Down 0.4%

NYSE TT opened at $460.57 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 1-year low of $318.08 and a 1-year high of $479.37. The company has a 50 day moving average of $443.55 and a 200-day moving average of $421.15. The company has a market cap of $101.94 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 2.44 and a beta of 1.21.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $2.61 earnings per share. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 57,997 shares of company stock valued at $25,107,014. 0.14% of the stock is owned by 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.