LGT Group Foundation Sells 2,757 Shares of Trane Technologies plc $TT

LGT Group Foundation lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 19.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,080 shares of the company’s stock after selling 2,757 shares during the period. LGT Group Foundation’s holdings in Trane Technologies were worth $4,714,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Trane Technologies by 1.7% in the second quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after acquiring an additional 335,634 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares during the last quarter. State Street Corp boosted its stake in Trane Technologies by 0.3% in the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after purchasing an additional 31,826 shares in the last quarter. Geode Capital Management LLC boosted its stake in Trane Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after purchasing an additional 56,293 shares in the last quarter. Finally, Norges Bank purchased a new stake in Trane Technologies during the 2nd quarter valued at about $1,356,065,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several recent analyst reports. Oppenheimer lifted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Citigroup increased their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Royal Bank Of Canada raised their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, Wells Fargo & Company upped their price objective on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Insider Buying and Selling at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the company’s 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 $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. This represents a 8.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This represents a 27.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,378 shares of company stock valued at $21,228,464 over the last three months. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Trading Up 1.1%

NYSE:TT opened at $427.89 on Tuesday. The firm has a 50 day moving average of $423.43 and a 200 day moving average of $417.02. The stock has a market capitalization of $94.70 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.23 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.61 earnings per share. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

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.