AMJ Financial Wealth Management Sells 6,847 Shares of Trane Technologies plc $TT

Key Points

• AMJ Financial Wealth Management cut its Trane Technologies stake by 36.1% in the fourth quarter, selling 6,847 shares and leaving it with 12,121 shares worth about $4.72 million.
• Several other institutions also adjusted positions, while 82.97% of Trane Technologies is owned by institutional investors, showing continued heavy institutional interest in the stock.
• The company reported better-than-expected first-quarter results with EPS of $2.63 and revenue of $4.97 billion, and it also announced a quarterly dividend of $1.05 per share, payable June 30.

AMJ Financial Wealth Management reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 36.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,121 shares of the company's stock after selling 6,847 shares during the period. AMJ Financial Wealth Management's holdings in Trane Technologies were worth $4,717,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC increased its holdings in Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock worth $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Credit Agricole S A bought a new position in shares of Trane Technologies in the third quarter valued at approximately $118,129,000. Finally, Phoenix Financial Ltd. grew its holdings in shares of Trane Technologies by 1,958.5% in the fourth quarter. Phoenix Financial Ltd. now owns 291,665 shares of the company's stock valued at $113,515,000 after acquiring an additional 277,496 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction on Friday, March 6th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $466.65 on Friday. The stock has a fifty day simple moving average of $450.17 and a two-hundred day simple moving average of $428.86. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The firm has a market cap of $103.15 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 2.22 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 - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.45 earnings per share. Analysts anticipate that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

TT has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, January 30th. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price for the company. Evercore initiated coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price for the company. Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $506.56.

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.

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