Corient Private Wealth LLC Has $149.16 Million Position in Trane Technologies plc $TT

Key Points

• Corient Private Wealth LLC increased its Trane Technologies stake by 11.2% in the fourth quarter, bringing its holdings to 383,000 shares worth about $149.16 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion topping forecasts, while sales rose 6% year over year.
• The company announced a quarterly dividend of $1.05 per share and has also seen mixed insider selling, while analysts remain broadly positive with a Moderate Buy consensus and a $509.12 price target.

Corient Private Wealth LLC lifted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,000 shares of the company's stock after acquiring an additional 38,437 shares during the period. Corient Private Wealth LLC owned approximately 0.17% of Trane Technologies worth $149,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Aptus Capital Advisors LLC lifted its position in shares of Trane Technologies by 169.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company's stock valued at $6,219,000 after acquiring an additional 9,276 shares during the period. Nordea Investment Management AB grew its holdings in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the period. Farther Finance Advisors LLC increased its stake in Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company's stock valued at $2,911,000 after purchasing an additional 2,917 shares in the last quarter. Dara Capital US Inc. bought a new stake in Trane Technologies in the fourth quarter valued at $966,000. Finally, Korea Investment CORP raised its holdings in shares of Trane Technologies by 17.5% during the third quarter. Korea Investment CORP now owns 204,695 shares of the company's stock valued at $86,373,000 after purchasing an additional 30,558 shares during the period. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Up 0.1%

NYSE:TT opened at $483.88 on Friday. 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 one year low of $348.06 and a one year high of $503.47. The company has a market cap of $106.96 billion, a PE ratio of 37.42, a PEG ratio of 2.23 and a beta of 1.20. The firm has a 50-day moving average of $467.88 and a 200-day moving average of $435.22.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly 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. The business had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued 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, September 4th. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

Insider Activity at Trane Technologies

In related 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 transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company's 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 of the company's stock, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. KeyCorp increased their price objective 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. Citigroup upped their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Evercore started coverage on Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. Finally, Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $509.12.

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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