Deutsche Bank AG Reduces Position in Trane Technologies plc $TT

Key Points

• Deutsche Bank AG cut its Trane Technologies stake by 18.6% in the fourth quarter, selling 187,094 shares and ending with 820,768 shares valued at about $319.4 million.
• Wall Street sentiment remains positive on Trane Technologies, with several firms reiterating or initiating bullish ratings and a consensus “Moderate Buy” price target of $509.12.
• The company posted solid quarterly results, reporting EPS of $2.63 versus the $2.53 estimate and revenue of $4.97 billion, while also announcing a $1.05 quarterly dividend.

Deutsche Bank AG decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 820,768 shares of the company's stock after selling 187,094 shares during the period. Deutsche Bank AG owned 0.37% of Trane Technologies worth $319,443,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tucker Asset Management LLC purchased a new position in Trane Technologies during the fourth quarter worth $25,000. JPL Wealth Management LLC purchased a new position in Trane Technologies during the third quarter worth $32,000. Hilton Head Capital Partners LLC purchased a new position in Trane Technologies during the fourth quarter worth $32,000. Creative Financial Designs Inc. ADV increased 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 buying an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Trane Technologies during the third quarter worth $42,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TT shares. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target for the company. Citigroup raised their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein assumed coverage on Trane Technologies in a research report on Tuesday. They issued an "outperform" rating and a $550.00 price objective for the company. Evercore assumed coverage on Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price for the company. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $509.12.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies 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 transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $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 can be accessed 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 Trane Technologies stock in a transaction on 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 transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

Shares of Trane Technologies stock opened at $449.96 on Thursday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock has a market capitalization of $99.46 billion, a P/E ratio of 34.80, a PEG ratio of 2.17 and a beta of 1.20. 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 business's fifty day moving average price is $462.00 and its 200 day moving average price is $432.62.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter last 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. As a group, research analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $1.05 dividend. The ex-dividend date 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 presently 32.48%.

Trane Technologies Company 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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