Chevy Chase Trust Holdings LLC Has $48.24 Million Position in Trane Technologies plc $TT

Chevy Chase Trust Holdings LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,315 shares of the company’s stock after selling 4,332 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Trane Technologies worth $48,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Consulate Inc. acquired a new position in Trane Technologies in the third quarter worth about $25,000. Icon Advisers Inc. Co. acquired a new stake in Trane Technologies during the second quarter valued at approximately $26,000. United Community Bank grew its stake in shares of 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 purchasing an additional 43 shares during the period. Halbert Hargrove Global Advisors LLC grew its stake in shares of 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 purchasing an additional 26 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after buying an additional 39 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was 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 of the company’s stock, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,378 shares of company stock worth $21,228,464 in the last quarter. Insiders own 0.14% of the company’s stock.

Trane Technologies Trading Up 0.2%

TT stock opened at $422.66 on Monday. The business has a fifty day moving average price of $426.27 and a 200 day moving average price of $417.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The stock has a market capitalization of $93.55 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.22 and a beta of 1.19.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given 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 annualized dividend and a yield of 1.0%. Trane Technologies’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research note on Monday, December 15th. Citigroup boosted their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Oppenheimer upped 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. Finally, Morgan Stanley dropped their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $484.67.

About Trane Technologies

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.