Trane Technologies plc $TT Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,073 shares of the company’s stock after selling 1,530 shares during the period. Sanctuary Advisors LLC’s holdings in Trane Technologies were worth $12,116,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Trane Technologies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after acquiring an additional 192,270 shares during the last quarter. State Street Corp lifted its stake in Trane Technologies by 0.6% during the fourth quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after purchasing an additional 61,393 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after purchasing an additional 14,179 shares during the period. Norges Bank acquired a new position in Trane Technologies in the fourth quarter worth $1,163,124,000. Finally, Nordea Investment Management AB increased its stake in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after purchasing an additional 72,998 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TT shares. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. KeyCorp increased their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Royal Bank Of Canada upped their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Trane Technologies Stock Down 1.1%

Trane Technologies stock opened at $475.00 on Friday. The company has a 50-day simple moving average of $469.82 and a 200-day simple moving average of $446.82. The firm has a market capitalization of $105.00 billion, a P/E ratio of 36.74, a P/E/G ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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 firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.45 EPS. As a group, equities analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

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.