Kepler Cheuvreux Suisse SA Has $32.75 Million Stock Holdings in Trane Technologies plc $TT

Key Points

• Kepler Cheuvreux Suisse SA trimmed its Trane Technologies stake by 12.5% in the fourth quarter, selling 12,001 shares and leaving it with 84,110 shares worth about $32.75 million.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus estimates of $2.53 and revenue of $4.97 billion versus expectations of $4.81 billion.
• The company announced a quarterly dividend of $1.05 per share, payable June 30, and analysts currently have a consensus rating of Moderate Buy with a price target of $505.56.

Kepler Cheuvreux Suisse SA reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,110 shares of the company's stock after selling 12,001 shares during the quarter. Trane Technologies comprises 1.9% of Kepler Cheuvreux Suisse SA's portfolio, making the stock its 15th biggest position. Kepler Cheuvreux Suisse SA's holdings in Trane Technologies were worth $32,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TT. JPMorgan Chase & Co. grew its position in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the period. Corient Private Wealth LLC grew its position in shares of Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock worth $321,757,000 after buying an additional 423,090 shares during the period. SG Americas Securities LLC grew its position in shares of Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock worth $164,828,000 after buying an additional 420,381 shares during the period. Credit Agricole S A acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $118,129,000. Finally, Danske Bank A S acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $88,959,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer directly owned 96,948 shares of the company's stock, valued at approximately $40,978,950.12. This trade represents a 27.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,590 shares of company stock worth $27,403,514. Insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $466.59 on Monday. The firm has a market cap of $103.14 billion, a PE ratio of 36.09, a PEG ratio of 2.15 and a beta of 1.25. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The company has a fifty day moving average price of $448.30 and a 200 day moving average price of $426.70.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 EPS. Research analysts predict that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio is 32.48%.

Analyst Ratings Changes

TT has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Trane Technologies from $550.00 to $535.00 and set an "overweight" rating for the company in a report on Tuesday, January 13th. Citigroup boosted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, January 30th. Finally, Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $505.56.

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.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.