Mirova Sells 1,781 Shares of Trane Technologies plc $TT

Mirova lowered its stake in Trane Technologies plc (NYSE:TT) by 14.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,523 shares of the company’s stock after selling 1,781 shares during the period. Mirova’s holdings in Trane Technologies were worth $4,440,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Old Port Advisors lifted its stake in shares of Trane Technologies by 3.2% in the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after buying an additional 24 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in Trane Technologies by 1.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after acquiring an additional 24 shares during the period. Bridgewater Advisors Inc. lifted its position in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after acquiring an additional 24 shares during the last quarter. West Family Investments Inc. lifted its position in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after acquiring an additional 24 shares during the last quarter. Finally, Cresset Asset Management LLC increased its stake in shares of Trane Technologies by 0.3% in the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after purchasing an additional 24 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction on 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 sale, the insider owned 3,819 shares in the company, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,378 shares of company stock valued at $21,228,464 in the last 90 days. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Up 0.3%

TT opened at $426.66 on Thursday. The firm has a market cap of $94.43 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.24 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The firm’s 50-day simple moving average is $428.78 and its 200-day simple moving average is $417.24. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37.

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

Trane Technologies Increases Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on TT shares. Oppenheimer raised their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Barclays raised their price objective on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed 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 note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus 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.