Flossbach Von Storch SE Grows Stock Position in Trane Technologies plc $TT

Key Points

• Flossbach Von Storch SE increased its stake in Trane Technologies by 108.3% in Q4, buying an additional 13,000 shares to hold 25,000 shares worth about $9.73 million.
• Insiders have sold heavily over the last quarter—57,997 shares totaling roughly $25.11 million (including sales by CAO Elizabeth Elwell and Donald Simmons), leaving corporate insiders with just 0.14% ownership while institutions own 82.97%.
• Trane beat recent quarterly estimates (EPS $2.86 vs. $2.81; revenue $5.14B vs. $5.09B), announced a quarterly dividend of $1.05 (annualized $4.20, yield ~0.9%), and carries a market cap around $107.5 billion with a consensus rating of "Moderate Buy" and a price target near $492.94.

Flossbach Von Storch SE increased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 108.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company's stock after purchasing an additional 13,000 shares during the quarter. Flossbach Von Storch SE's holdings in Trane Technologies were worth $9,730,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TT. Financial Consulate Inc. purchased a new stake in shares of Trane Technologies during the third quarter worth approximately $25,000. United Community Bank grew its holdings in Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after acquiring an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $32,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $42,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock valued at $45,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Transactions at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. The trade was a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 57,997 shares of company stock worth $25,107,014. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $486.36 on Tuesday. Trane Technologies plc has a 12 month low of $346.45 and a 12 month high of $493.69. The firm has a market capitalization of $107.54 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.56 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The company's fifty day moving average price is $446.14 and its 200 day moving average price is $424.03.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the firm posted $2.61 earnings per share. Trane Technologies's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Trane Technologies plc will post 14.75 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's dividend payout ratio (DPR) is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a research note on Friday, January 30th. KeyCorp lifted their price target on Trane Technologies from $500.00 to $525.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Evercore began coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Barclays boosted their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. One equities research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $492.94.

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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