Trane Technologies plc $TT Shares Sold by Walter Public Investments Inc.

Walter Public Investments Inc. lessened its stake in Trane Technologies plc (NYSE:TT) by 6.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 51,817 shares of the company’s stock after selling 3,495 shares during the quarter. Trane Technologies accounts for 3.6% of Walter Public Investments Inc.’s holdings, making the stock its 9th biggest position. Walter Public Investments Inc.’s holdings in Trane Technologies were worth $20,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Norges Bank acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $1,163,124,000. JPMorgan Chase & Co. boosted its holdings in shares of Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after buying an additional 1,433,563 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after buying an additional 423,090 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after buying an additional 420,381 shares during the period. Finally, Credit Agricole S A acquired a new position in Trane Technologies during the third quarter worth $118,129,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several recent research reports. KeyCorp increased their target price on shares of 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 shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Royal Bank Of Canada increased their target price on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average target price of $506.56.

Trane Technologies Stock Performance

Shares of TT opened at $451.68 on Friday. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The firm has a fifty day simple moving average of $455.43 and a 200 day simple moving average of $430.04. The stock has a market capitalization of $99.84 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.08 and a beta of 1.25. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 earnings per share. Research analysts forecast that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Insider Activity

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is owned by insiders.

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.