BNP Paribas Financial Markets Buys 75,914 Shares of Trane Technologies plc $TT

Key Points

• BNP Paribas Financial Markets increased its Trane Technologies stake by 27.9% in the fourth quarter, buying 75,914 shares and lifting its holdings to 348,144 shares worth about $135.5 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 topping estimates and revenue of $4.97 billion, both above analyst expectations. Revenue rose 6% year over year.
• The company also announced a quarterly dividend of $1.05 per share, payable June 30, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $506.56.

BNP Paribas Financial Markets boosted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 348,144 shares of the company's stock after buying an additional 75,914 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.16% of Trane Technologies worth $135,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC bought a new position in Trane Technologies during the fourth quarter worth about $25,000. United Community Bank boosted its position in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after purchasing an additional 43 shares during the period. JPL Wealth Management LLC bought a new position in Trane Technologies during the third quarter worth about $32,000. Creative Financial Designs Inc. ADV boosted its position in Trane Technologies by 119.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock worth $35,000 after purchasing an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Trane Technologies during the third quarter worth about $42,000. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the 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 transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,654 shares of company stock valued at $23,269,523 over the last ninety days. Insiders own 0.43% of the company's stock.

Trane Technologies Trading Up 0.1%

Shares of TT opened at $451.68 on Monday. The firm's 50 day simple moving average is $455.43 and its 200 day simple moving average is $430.02. The company has a market capitalization of $99.84 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.08 and a beta of 1.20. 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 1-year low of $348.06 and a 1-year high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The business had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same period last year, the business earned $2.45 earnings per share. The business's quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analyst Weigh In

TT has been the subject of a number of research reports. KeyCorp increased their target price 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. Barclays increased their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Citigroup increased their price target 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. Finally, Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Moderate Buy" and an average 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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