Trane Technologies plc $TT Stock Position Cut by Mirova

Mirova decreased its stake in shares of Trane Technologies plc (NYSE:TT) by 14.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,523 shares of the company’s stock after selling 1,781 shares during the period. Mirova’s holdings in Trane Technologies were worth $4,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TT. Icon Advisers Inc. Co. bought a new position in shares of Trane Technologies in the second quarter valued at approximately $26,000. Financial Consulate Inc. bought a new stake in Trane Technologies during the third quarter worth approximately $25,000. United Community Bank lifted its position in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. JPL Wealth Management LLC bought a new position in Trane Technologies during the 3rd quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,378 shares of company stock worth $21,228,464 in the last quarter. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TT shares. UBS Group dropped their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Morgan Stanley decreased their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Oppenheimer upped their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Citigroup raised their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Up 0.3%

Shares of Trane Technologies stock opened at $426.66 on Thursday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a market cap of $94.43 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.24 and a beta of 1.19. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $428.78 and a 200 day moving average price of $417.24.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.61 EPS. As a group, analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Trane Technologies Company 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.