Trane Technologies plc $TT Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its stake in Trane Technologies plc (NYSE:TT) by 17.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,709 shares of the company’s stock after selling 17,291 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Trane Technologies were worth $38,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TT. Wilkerson Advisory Group LLC increased its position in shares of Trane Technologies by 136.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC raised its stake in shares of Trane Technologies by 153.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock worth $32,000 after buying an additional 40 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Trane Technologies in the first quarter valued at $33,000. James T. Borello RIA lifted its holdings in shares of Trane Technologies by 41.7% in the third quarter. James T. Borello RIA now owns 102 shares of the company’s stock valued at $46,000 after buying an additional 30 shares during the period. Finally, MADDEN SECURITIES Corp bought a new position in Trane Technologies during the third quarter valued at about $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares in the company, valued at approximately $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 firms recently issued reports on TT. The Goldman Sachs Group raised Trane Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $548.00 to $565.00 in a report on Wednesday, October 14th. Mizuho upped their price target on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. JPMorgan Chase & Co. reduced their price objective on shares of Trane Technologies from $550.00 to $480.00 and set an “overweight” rating for the company in a research report on Wednesday. Wall Street Zen lowered shares of Trane Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, November 8th. Finally, Sanford C. Bernstein lifted their price objective on shares of Trane Technologies from $555.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $531.22.

Trane Technologies Price Performance

Shares of NYSE:TT traded down $6.26 on Friday, reaching $417.79. 1,164,075 shares of the company traded hands, compared to its average volume of 1,695,128. The stock has a market capitalization of $91.46 billion, a PE ratio of 29.51, a P/E/G ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79. The company’s 50 day moving average is $443.51 and its 200-day moving average is $455.21. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.12. The business had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.88 EPS. As a group, analysts anticipate that Trane Technologies plc will post 15.29 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.66%.

Trane Technologies Company Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.