Lombard Odier Asset Management Switzerland SA Buys New Shares in Trane Technologies plc $TT

Key Points

• Lombard Odier Asset Management Switzerland purchased 9,344 shares of Trane Technologies valued at approximately $3.9 million, while institutional investors collectively own 82.97% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $516.67.
• Trane Technologies exceeded quarterly earnings and revenue expectations, reporting $2.63 in EPS and $4.97 billion in revenue, and declared a quarterly dividend of $1.05 per share.

Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,344 shares of the company's stock, valued at approximately $3,894,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TT. Lombard Odier Asset Management USA Corp bought a new position in shares of Trane Technologies in the first quarter worth about $236,000. Waverly Advisors LLC lifted its position in shares of Trane Technologies by 13.0% during the 1st quarter. Waverly Advisors LLC now owns 7,530 shares of the company's stock valued at $3,138,000 after buying an additional 864 shares in the last quarter. Entropy Technologies LP grew its stake in shares of Trane Technologies by 11.3% during the 1st quarter. Entropy Technologies LP now owns 42,227 shares of the company's stock valued at $17,598,000 after acquiring an additional 4,282 shares during the period. Boreal Capital Management LLC increased its holdings in Trane Technologies by 477.8% in the 1st quarter. Boreal Capital Management LLC now owns 520 shares of the company's stock worth $217,000 after acquiring an additional 430 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its stake in Trane Technologies by 57.6% during the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 17,504 shares of the company's stock worth $7,295,000 after acquiring an additional 6,394 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TT. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a report on Friday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. KeyCorp upped their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein set a $555.00 price target on Trane Technologies in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four 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 an average rating of "Moderate Buy" and a consensus price target of $516.67.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated 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 sale, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company's stock.

Trane Technologies Trading Up 0.0%

Trane Technologies stock opened at $481.09 on Monday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm's 50 day moving average price is $470.13 and its 200-day moving average price is $450.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The stock has a market cap of $106.34 billion, a P/E ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $2.45 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is presently 32.48%.

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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