Man Group plc Lowers Stock Holdings in Trane Technologies plc $TT

Man Group plc decreased its position in shares of Trane Technologies plc (NYSE:TT) by 6.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 619,707 shares of the company’s stock after selling 43,143 shares during the quarter. Man Group plc’s holdings in Trane Technologies were worth $241,190,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fiduciary Family Office LLC lifted its stake in Trane Technologies by 1.5% in the 4th quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock worth $612,000 after purchasing an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in shares of Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after buying an additional 23 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in shares of Trane Technologies by 3.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after buying an additional 24 shares during the last quarter. West Family Investments Inc. grew its holdings in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after purchasing an additional 24 shares during the last quarter. Finally, Cresset Asset Management LLC grew its holdings in Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was 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 directly owned 60,576 shares of the company’s stock, valued at $27,259,200. The trade was a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Trane Technologies Price Performance

Trane Technologies stock opened at $472.61 on Thursday. The stock has a market cap of $104.47 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The firm has a 50-day moving average of $466.16 and a two-hundred day moving average of $434.44.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The company 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 firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.45 EPS. On average, research analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is 32.48%.

Analyst Ratings Changes

Several equities analysts recently commented on TT shares. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Barclays upped their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Evercore started coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Finally, Sanford C. Bernstein started coverage on shares of Trane Technologies in a report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

About Trane Technologies

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.