Grantham Mayo Van Otterloo & Co. LLC Decreases Stake in Trane Technologies plc $TT

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its stake in Trane Technologies by 27.5% in Q3, selling 5,830 shares and leaving it with 15,333 shares valued at $6.47 million.
• Company insiders have sold a total of 49,378 shares worth $21.23 million in the last 90 days, including CFO Christopher Kuehn's sale of 2,389 shares at $462.70 and CAO Elizabeth Elwell's sale of 635 shares at $422.70.
• Trane raised its quarterly dividend to $1.05 (annualized $4.20, yield 1.0%), while analysts maintain a consensus rating of "Moderate Buy" with an average target price of $484.67.

Grantham Mayo Van Otterloo & Co. LLC cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 27.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,333 shares of the company's stock after selling 5,830 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Trane Technologies were worth $6,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Aptus Capital Advisors LLC grew its stake in 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 purchasing an additional 9,276 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Trane Technologies in the third quarter worth about $6,571,000. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.4% in the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company's stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the last quarter. Boston Common Asset Management LLC acquired a new stake in shares of Trane Technologies during the third quarter worth about $9,546,000. Finally, Compass Wealth Management LLC boosted its position in Trane Technologies by 3,785.4% in the third quarter. Compass Wealth Management LLC now owns 27,198 shares of the company's stock valued at $11,476,000 after buying an additional 26,498 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TT. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a "buy" rating on the stock in a report on Monday, January 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Wednesday, January 21st. Melius Research upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 price objective on the stock in a research note on Wednesday, January 7th. Oppenheimer raised their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $484.67.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,389 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the transaction, the chief financial officer directly owned 60,486 shares of the company's stock, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,378 shares of company stock worth $21,228,464 in the last ninety days. 0.14% of the stock is owned by company insiders.

Trane Technologies Stock Up 1.1%

Shares of TT opened at $427.89 on Tuesday. The firm has a market cap of $94.70 billion, a P/E ratio of 32.97, a PEG ratio of 2.23 and a beta of 1.19. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $479.37. The stock's 50 day moving average is $423.43 and its two-hundred day moving average is $417.02. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the firm posted $2.61 EPS. The business's revenue was up 5.6% on a year-over-year basis. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies's previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a yield of 1.0%. Trane Technologies's payout ratio is 32.36%.

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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