Amundi Raises Stake in Trane Technologies plc $TT

Amundi boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 47.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,174,396 shares of the company's stock after buying an additional 703,018 shares during the period. Amundi owned approximately 0.98% of Trane Technologies worth $906,158,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wilkerson Advisory Group LLC lifted its stake in shares of Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Tucker Asset Management LLC acquired a new position in Trane Technologies during the 4th quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the third quarter valued at approximately $32,000. Physician Wealth Advisors Inc. raised its stake in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Trane Technologies during the first quarter worth $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of TT opened at $470.66 on Wednesday. The stock has a market capitalization of $104.04 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The business's fifty day moving average price is $471.04 and its 200 day moving average price is $451.67. 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 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. 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%.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent analyst reports. Citigroup boosted their price objective 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. lifted their price objective on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Sanford C. Bernstein set a $555.00 target price on Trane Technologies in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Finally, BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $516.67.

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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