Trane Technologies plc $TT Shares Sold by National Pension Service

National Pension Service reduced its position in shares of Trane Technologies plc (NYSE:TT) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 537,797 shares of the company’s stock after selling 95,789 shares during the period. National Pension Service’s holdings in Trane Technologies were worth $209,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TT. JPMorgan Chase & Co. grew its holdings in Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. Corient Private Wealth LLC grew its holdings in Trane Technologies by 135.4% during the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after acquiring an additional 423,090 shares during the period. SG Americas Securities LLC grew its holdings in Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after acquiring an additional 420,381 shares during the period. Credit Agricole S A acquired a new position in Trane Technologies during the third quarter worth about $118,129,000. Finally, Phoenix Financial Ltd. grew its holdings in Trane Technologies by 1,958.5% during the fourth quarter. Phoenix Financial Ltd. now owns 291,665 shares of the company’s stock worth $113,515,000 after acquiring an additional 277,496 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 53,654 shares of company stock valued at $23,269,523 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Down 0.1%

Shares of Trane Technologies stock opened at $451.68 on Friday. The firm has a market cap of $99.85 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 2.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The stock has a 50-day simple moving average of $455.43 and a 200-day simple moving average of $430.04.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.45 EPS. On average, equities research analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is currently 32.48%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TT shares. Wells Fargo & Company lifted their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Barclays lifted their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. KeyCorp lifted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.56.

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.