Ninety One UK Ltd Grows Holdings in Trane Technologies plc $TT

Key Points

• Ninety One UK Ltd increased its stake in Trane Technologies (NYSE:TT) by 20.6% in Q4 to 674,230 shares, representing about 0.30% of the company and valued at roughly $262.41 million.
• Insider selling: CEO David S. Regnery sold 36,045 shares on March 6 for about $15.24 million (a 27.1% reduction in his holding), and insiders disposed of 57,997 shares worth $25.11 million in the last quarter.
• Company fundamentals: Trane beat quarterly EPS estimates ($2.86 vs. $2.81) on $5.14 billion revenue, has a $105.37 billion market cap, and declared a quarterly dividend of $1.05 (annualized $4.20, yield ~0.9%, ex-dividend June 5).

Ninety One UK Ltd grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 20.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 674,230 shares of the company's stock after acquiring an additional 115,194 shares during the period. Ninety One UK Ltd owned about 0.30% of Trane Technologies worth $262,410,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the period. Nordea Investment Management AB increased its stake in Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after buying an additional 72,998 shares during the period. Bank of America Corp DE increased its stake in Trane Technologies by 9.2% during the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock worth $1,022,278,000 after buying an additional 203,766 shares during the period. Legal & General Group Plc increased its stake in Trane Technologies by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock worth $793,378,000 after buying an additional 44,243 shares during the period. Finally, Invesco Ltd. increased its stake in Trane Technologies by 4.1% during the 3rd quarter. Invesco Ltd. now owns 1,776,055 shares of the company's stock worth $749,424,000 after buying an additional 70,172 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald E. Simmons sold 3,762 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the transaction, the insider owned 3,819 shares of the company's stock, valued at approximately $1,614,291.30. The trade was a 49.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 57,997 shares of company stock worth $25,107,014. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Trading Up 3.4%

Shares of NYSE:TT opened at $476.07 on Friday. Trane Technologies plc has a 52 week low of $318.08 and a 52 week high of $480.51. The company's 50 day moving average is $443.97 and its two-hundred day moving average is $421.58. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $105.37 billion, a PE ratio of 36.68, a P/E/G ratio of 2.43 and a beta of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the firm posted $2.61 EPS. The company's quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a research note on Friday, January 30th. Citigroup upped their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. UBS Group cut their target price on shares of Trane Technologies from $544.00 to $520.00 and set a "buy" rating on the stock in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $491.47.

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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