MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Trane Technologies plc $TT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Trane Technologies by 1.5% during Q3 to 735,584 shares, valued at about $310.36 million and representing roughly 0.33% of the company.
• Company insiders sold 49,378 shares over the last quarter—including CEO David S. Regnery's sale of 36,045 shares (~$15.24M) and CAO Elizabeth Elwell's 635 shares—bringing insider ownership down to about 0.14%.
• Trane increased its quarterly dividend to $1.05 (annualized $4.20, ~1.0% yield) and recently posted an EPS beat ($2.86 vs. $2.81) with revenue of $5.14 billion, up 5.6% year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 735,584 shares of the company's stock after purchasing an additional 11,125 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.33% of Trane Technologies worth $310,361,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Icon Advisers Inc. Co. purchased a new stake in Trane Technologies in the 2nd quarter valued at approximately $26,000. Financial Consulate Inc. acquired a new stake in Trane Technologies during the 3rd quarter valued at $25,000. United Community Bank increased its position in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after buying an additional 43 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Trane Technologies in the third quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC lifted its position in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock valued at $43,000 after acquiring an additional 26 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the 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 completion of the sale, the chief accounting officer owned 7,100 shares of the company's stock, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is currently owned by company insiders.

Trane Technologies Stock Down 0.2%

Shares of NYSE TT opened at $421.48 on Tuesday. The stock has a market capitalization of $93.29 billion, a PE ratio of 32.47, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $426.89 and a 200-day moving average of $417.11. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37.

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

Trane Technologies Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on TT shares. Morgan Stanley dropped their price objective on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating for the company in a research report on Tuesday, January 13th. KeyCorp raised shares of Trane Technologies from a "sector weight" rating to an "overweight" rating and set a $500.00 price target on the stock in a research note on Monday, December 15th. Oppenheimer lifted their price target 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. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $484.67.

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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