Vontobel Holding Ltd. increased its stake in Trane Technologies plc (NYSE:TT – Free Report) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,010 shares of the company’s stock after purchasing an additional 24,940 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.10% of Trane Technologies worth $84,460,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of TT. Brighton Jones LLC increased its stake in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Trane Technologies in the 2nd quarter worth about $227,000. Nebula Research & Development LLC increased its stake in Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Wall Street Analysts Forecast Growth
TT has been the topic of a number of analyst reports. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Sanford C. Bernstein started coverage on Trane Technologies in a research note on Tuesday. They set an “outperform” rating and a $550.00 target price on the stock. KeyCorp lifted their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Barclays lifted their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $509.12.
Trane Technologies Trading Down 0.5%
NYSE:TT opened at $457.69 on Friday. 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 plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The stock’s 50-day moving average is $463.44 and its two-hundred day moving average is $433.14. The stock has a market cap of $101.17 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.20.
Trane Technologies (NYSE:TT – Get Free Report) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.45 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.
Trane Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.
Insider Activity
In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated 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 directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated 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 sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% 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 insiders.
Trane Technologies Company 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.
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