Park Avenue Securities LLC Sells 509 Shares of Trane Technologies plc (NYSE:TT)

Park Avenue Securities LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 3.1% in the 2nd quarter, Holdings Channel reports. The fund owned 16,101 shares of the company’s stock after selling 509 shares during the quarter. Park Avenue Securities LLC’s holdings in Trane Technologies were worth $5,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Trane Technologies in the fourth quarter worth $655,804,000. Swedbank AB bought a new position in Trane Technologies in the first quarter worth $206,211,000. TD Asset Management Inc lifted its position in Trane Technologies by 719.8% in the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after purchasing an additional 659,299 shares during the period. Putnam Investments LLC lifted its position in Trane Technologies by 27,824.4% in the fourth 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. Finally, Kodai Capital Management LP bought a new position in Trane Technologies in the fourth quarter worth $77,615,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction that occurred 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 sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies 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 in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Insiders have sold 42,438 shares of company stock worth $13,623,337 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TT. The Goldman Sachs Group raised their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised 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, August 1st. UBS Group increased their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Mizuho increased their price objective on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird increased their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and an average price target of $323.29.

Trane Technologies Trading Up 0.2 %

TT traded up $0.78 during midday trading on Wednesday, reaching $323.69. 1,208,858 shares of the company were exchanged, compared to its average volume of 1,139,528. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. Trane Technologies plc has a one year low of $184.02 and a one year high of $351.41. The stock has a market capitalization of $73.05 billion, a P/E ratio of 34.56, a PEG ratio of 2.50 and a beta of 1.01. The stock’s 50-day simple moving average is $331.08 and its 200 day simple moving average is $307.40.

Trane Technologies (NYSE:TT) last issued its 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. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $2.68 earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts forecast that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Trane Technologies Company 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.