Rathbones Group PLC Sells 2,542 Shares of Trane Technologies plc $TT

Rathbones Group PLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,195 shares of the company’s stock after selling 2,542 shares during the quarter. Rathbones Group PLC’s holdings in Trane Technologies were worth $27,932,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Trane Technologies during the third quarter valued at about $6,571,000. Nordea Investment Management AB lifted its stake in shares of Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after acquiring an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC purchased a new stake in Trane Technologies during the 3rd quarter valued at about $9,546,000. Compass Wealth Management LLC boosted its holdings in Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock valued at $11,476,000 after acquiring an additional 26,498 shares during the period. Finally, Aptus Capital Advisors LLC grew its position in Trane Technologies by 169.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after acquiring an additional 9,276 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TT. UBS Group decreased their price target 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. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Morgan Stanley decreased their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Wells Fargo & Company upped their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. Finally, Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Insider Activity

In related news, CAO Elizabeth A. Elwell sold 137 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.48, for a total transaction of $63,359.76. Following the completion of the sale, the chief accounting officer owned 7,100 shares of the company’s stock, valued at $3,283,608. This trade represents a 1.89% decrease in their ownership of the stock. 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 2,389 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,936 shares of company stock valued at $4,133,991 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Down 3.1%

Trane Technologies stock opened at $423.04 on Friday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The company has a market capitalization of $93.63 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The business’s fifty day simple moving average is $422.75 and its two-hundred day simple moving average is $417.05. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly 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 firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.61 earnings per share. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company 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 dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is 28.97%.

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.