Banque Transatlantique SA Takes Position in Trane Technologies plc (NYSE:TT)

Banque Transatlantique SA purchased a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 51,350 shares of the company's stock, valued at approximately $19,274,000.

Several other institutional investors have also recently made changes to their positions in TT. Sound Income Strategies LLC increased its position in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock valued at $37,000 after buying an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at approximately $39,000. BankPlus Trust Department acquired a new position in shares of Trane Technologies during the fourth quarter worth approximately $45,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter worth $55,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE:TT traded up $4.04 during trading on Tuesday, hitting $406.94. 1,892,033 shares of the company were exchanged, compared to its average volume of 1,322,305. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $422.00. The stock has a 50 day moving average of $346.56 and a 200 day moving average of $372.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The company has a market cap of $90.76 billion, a PE ratio of 36.17, a P/E/G ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the company earned $1.94 EPS. The firm's revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.92%. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays lowered their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Melius cut Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. Melius Research reissued a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $421.07.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company's stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,977 shares of company stock valued at $2,577,061. 0.38% of the stock is currently owned by company insiders.

About Trane Technologies

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.