Panagora Asset Management Inc. Has $46.26 Million Stock Position in Trane Technologies plc $TT

Panagora Asset Management Inc. decreased its position in Trane Technologies plc (NYSE:TT) by 60.3% in the 4th quarter, HoldingsChannel reports. The fund owned 118,847 shares of the company’s stock after selling 180,628 shares during the period. Panagora Asset Management Inc.’s holdings in Trane Technologies were worth $46,255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TT. Aptus Capital Advisors LLC raised its holdings in shares of Trane Technologies by 169.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after buying an additional 9,276 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Trane Technologies by 64.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after buying an additional 2,917 shares in the last quarter. Dara Capital US Inc. acquired a new position in shares of Trane Technologies in the 4th quarter worth approximately $966,000. Finally, Korea Investment CORP raised its holdings in shares of Trane Technologies by 17.5% in the 3rd quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock worth $86,373,000 after buying an additional 30,558 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore assumed coverage on Trane Technologies in a report on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Barclays increased 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 increased their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein started coverage on Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies Stock Up 3.1%

NYSE TT opened at $472.54 on Tuesday. The firm has a market cap of $104.45 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47. The stock’s 50 day simple moving average is $464.34 and its 200 day simple moving average is $433.68. 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 (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion for 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%.Trane Technologies’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 EPS. As a group, sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Buying and Selling

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 transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

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.