Legal & General Group Plc Sells 202,550 Shares of Trane Technologies plc $TT

Key Points

• Legal & General Group Plc trimmed its Trane Technologies stake by 10.8% in the fourth quarter, selling 202,550 shares and ending with 1,677,671 shares valued at about $653 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion also topping expectations; revenue rose 6% year over year.
• The company is supported by a quarterly dividend of $1.05 per share and generally positive Wall Street sentiment, with a consensus rating of Moderate Buy and an average price target of $506.56.

Legal & General Group Plc lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,677,671 shares of the company's stock after selling 202,550 shares during the quarter. Legal & General Group Plc owned about 0.76% of Trane Technologies worth $652,950,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TT. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. United Community Bank boosted its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the third quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV boosted its position in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock valued at $35,000 after acquiring an additional 49 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Trane Technologies in the third quarter valued at approximately $42,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $451.57 on Tuesday. The business has a fifty day simple moving average of $452.86 and a 200 day simple moving average of $429.43. 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 firm has a market capitalization of $99.82 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.07 and a beta of 1.25. Trane Technologies plc has a one year low of $348.06 and a one year high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. Sell-side analysts expect that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid 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, June 5th. Trane Technologies's dividend payout ratio is presently 32.48%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction 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 directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 53,654 shares of company stock valued at $23,269,523. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TT. Oppenheimer increased their price objective on Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective for the company. Barclays increased 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. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $506.56.

About Trane Technologies

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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