Trane Technologies plc (NYSE:TT) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. decreased its stake in Trane Technologies plc (NYSE:TT) by 6.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 84,273 shares of the company’s stock after selling 6,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Trane Technologies were worth $28,393,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TT. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $26,000. WFA Asset Management Corp raised its position in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in Trane Technologies in the 1st quarter valued at $31,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

TT opened at $420.84 on Friday. The company’s 50 day simple moving average is $392.71 and its 200 day simple moving average is $376.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $436.61. The stock has a market capitalization of $93.85 billion, a PE ratio of 37.41, a P/E/G ratio of 2.50 and a beta of 1.16.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the company earned $1.94 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies’s payout ratio is 31.28%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TT shares. UBS Group upped their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Citigroup upped their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Barclays cut their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, HSBC upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and an average price target of $427.47.

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.