Baader Bank Aktiengesellschaft Sells 3,931 Shares of Trane Technologies plc $TT

Key Points

• Baader Bank Aktiengesellschaft cut its Trane Technologies stake by 53.7% in the fourth quarter, selling 3,931 shares and leaving it with 3,390 shares valued at about $1.32 million.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus estimates of $2.53 and revenue of $4.97 billion versus expectations of $4.81 billion. Revenue rose 6.0% year over year.
• The company also announced a quarterly dividend of $1.05 per share, payable June 30, representing an annualized dividend of $4.20 and a yield of 0.9%.

Baader Bank Aktiengesellschaft lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 53.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,390 shares of the company's stock after selling 3,931 shares during the period. Baader Bank Aktiengesellschaft's holdings in Trane Technologies were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TT. Brighton Jones LLC raised its position in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Trane Technologies by 22.4% during 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 last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies during the second quarter valued at approximately $227,000. Nebula Research & Development LLC raised its position in shares of Trane Technologies by 178.0% during 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 last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Trane Technologies by 0.5% during 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 last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction dated 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 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 transaction 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, CAO Elizabeth A. Elwell sold 635 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company's stock, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,654 shares of company stock valued at $23,269,523 over the last ninety days. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TT shares. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a research report on Friday, January 30th. Finally, KeyCorp boosted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $505.56.

Trane Technologies Stock Up 0.6%

Shares of TT opened at $470.52 on Thursday. The firm has a market capitalization of $104.01 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.16 and a beta of 1.25. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $449.02 and a 200-day moving average price of $428.20.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business's revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 earnings per share. Equities research analysts expect that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

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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