National Pension Service Cuts Stake in Trane Technologies plc $TT

Key Points

• National Pension Service cut its Trane Technologies stake by 15.1% in the fourth quarter, selling 95,789 shares and leaving it with 537,797 shares valued at about $209.3 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion topping expectations, while revenue rose 6% year over year.
• The company declared a quarterly dividend of $1.05 per share, and analysts remain generally positive with a Moderate Buy consensus and an average price target of $506.56.

National Pension Service reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 537,797 shares of the company's stock after selling 95,789 shares during the period. National Pension Service owned 0.24% of Trane Technologies worth $209,311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. Brighton Jones LLC increased its position in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC increased its position in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company's stock worth $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in Trane Technologies during the 2nd quarter worth approximately $227,000. Nebula Research & Development LLC increased its position in Trane Technologies by 178.0% during the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company's stock worth $1,037,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Trane Technologies by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company's stock worth $45,552,000 after purchasing an additional 497 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction dated 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 sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,654 shares of company stock valued at $23,269,523 in the last ninety days. Company insiders own 0.14% of the company's stock.

Trane Technologies Stock Performance

Trane Technologies stock opened at $451.68 on Friday. 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 company has a market cap of $99.85 billion, a PE ratio of 34.93, a P/E/G ratio of 2.08 and a beta of 1.25. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a fifty day moving average price of $455.43 and a two-hundred day moving average price of $430.04.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. During the same period last year, the business posted $2.45 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a dividend of $1.05 per share. 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 payout ratio is currently 32.48%.

Analyst Upgrades and Downgrades

TT has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Oppenheimer increased their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Evercore assumed coverage on shares of Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $506.56.

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.

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