AustralianSuper Pty Ltd Has $29.20 Million Stake in Trane Technologies plc $TT

Key Points

• AustralianSuper Pty Ltd sharply cut its Trane Technologies position by 67.6% in the fourth quarter, but still held 75,017 shares valued at about $29.2 million at quarter-end.
• Trane Technologies reported better-than-expected Q1 results, with EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion versus $4.81 billion expected, while revenue rose 6% year over year.
• The company announced a quarterly dividend of $1.05 per share and continues to draw mixed but mostly positive analyst sentiment, with a consensus rating of Moderate Buy and a target price around $506.56.

AustralianSuper Pty Ltd decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 67.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,017 shares of the company's stock after selling 156,634 shares during the quarter. AustralianSuper Pty Ltd's holdings in Trane Technologies were worth $29,197,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock valued at $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. acquired a new position in Trane Technologies in the second quarter valued at about $227,000. Nebula Research & Development LLC lifted its stake in Trane Technologies by 178.0% in the second quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock valued at $1,037,000 after buying an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in Trane Technologies by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock valued at $45,552,000 after buying an additional 497 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $466.65 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a market capitalization of $103.15 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The company's 50 day moving average price is $450.17 and its two-hundred day moving average price is $428.86. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 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 net margin of 13.41% and a return on equity of 35.55%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $2.45 EPS. On average, analysts expect that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's dividend payout ratio is currently 32.48%.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company's stock, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,654 shares of company stock valued at $23,269,523 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. KeyCorp lifted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. BNP Paribas Exane began 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. Barclays boosted 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. Finally, Wells Fargo & Company boosted 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $506.56.

Trane Technologies 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.

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