Natixis Advisors LLC Sells 27,911 Shares of Trane Technologies plc $TT

Key Points

• Natixis Advisors LLC reduced its Trane Technologies stake by 8.4% in the fourth quarter, selling 27,911 shares and leaving it with 302,421 shares valued at about $117.7 million.
• Insider selling has also been notable: CEO David S. Regnery sold 36,045 shares and CAO Elizabeth A. Elwell sold 635 shares on March 6, bringing total insider sales over the last 90 days to 53,654 shares worth $23.3 million.
• Trane Technologies posted a strong quarter, beating expectations with EPS of $2.63 and revenue of $4.97 billion, while analysts currently rate the stock a Moderate Buy with a consensus target of $506.56.

Natixis Advisors LLC lessened its position in Trane Technologies plc (NYSE:TT - Free Report) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 302,421 shares of the company's stock after selling 27,911 shares during the period. Natixis Advisors LLC owned approximately 0.14% of Trane Technologies worth $117,702,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TT. Norges Bank bought a new stake in Trane Technologies in the fourth quarter valued at approximately $1,163,124,000. JPMorgan Chase & Co. increased its stake in Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares in the last quarter. Corient Private Wealth LLC increased its stake in Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock valued at $321,757,000 after purchasing an additional 423,090 shares in the last quarter. SG Americas Securities LLC increased its stake in Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock valued at $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Finally, Credit Agricole S A bought a new stake in Trane Technologies in the third quarter valued at approximately $118,129,000. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction 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 approximately $40,978,950.12. This represents a 27.10% 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. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the transaction, the chief accounting officer owned 7,100 shares of the company's stock, valued at $3,001,170. The trade was a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 53,654 shares of company stock worth $23,269,523. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on TT shares. BNP Paribas Exane started coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price for the company. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Citigroup upped 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $506.56.

Trane Technologies Stock Up 2.4%

Trane Technologies stock opened at $459.21 on Wednesday. The stock has a market capitalization of $101.51 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.20. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $455.94 and a 200-day moving average of $430.21.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly 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%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.45 earnings per share. On average, equities research analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is presently 32.48%.

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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