Burney Co. Sells 978 Shares of Trane Technologies plc (NYSE:TT)

Burney Co. lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 23.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,153 shares of the company’s stock after selling 978 shares during the quarter. Burney Co.’s holdings in Trane Technologies were worth $947,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Trane Technologies during the fourth quarter worth approximately $655,804,000. International Assets Investment Management LLC increased its position in Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the last quarter. Swedbank AB purchased a new stake in shares of Trane Technologies in the first quarter valued at $206,211,000. TD Asset Management Inc lifted its holdings in shares of Trane Technologies by 719.8% in the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after acquiring an additional 659,299 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after purchasing an additional 570,679 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Down 4.5 %

Shares of TT stock traded down $14.88 during trading hours on Friday, reaching $318.45. 2,070,074 shares of the company’s stock were exchanged, compared to its average volume of 1,336,537. The stock has a market cap of $71.86 billion, a PE ratio of 34.02, a PEG ratio of 2.50 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $331.66 and its two-hundred day moving average price is $305.55. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $351.41.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $2.68 earnings per share. Research analysts predict that Trane Technologies plc will post 10.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

Several brokerages have issued reports on TT. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Mizuho upped their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday. TD Cowen raised their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, UBS Group boosted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $321.14.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.