Northwestern Mutual Wealth Management Co. Trims Stake in Trane Technologies plc $TT

Key Points

• Northwestern Mutual Wealth Management cut its Trane Technologies stake by 60.7% in the fourth quarter, leaving it with 5,666 shares worth about $2.2 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion topping forecasts; revenue rose 6% year over year.
• The company also announced a quarterly dividend of $1.05 per share, and analysts currently rate the stock a Moderate Buy with an average target price of $506.56.

Northwestern Mutual Wealth Management Co. reduced its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 60.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,666 shares of the company's stock after selling 8,749 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Trane Technologies were worth $2,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. United Community Bank increased its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after buying an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Trane Technologies during the third quarter valued at approximately $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies in the third quarter worth $42,000. Hantz Financial Services Inc. increased its stake in shares of Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock worth $45,000 after purchasing an additional 39 shares in the last quarter. Finally, Key Financial Inc increased its stake in shares of Trane Technologies by 833.3% in the third quarter. Key Financial Inc now owns 112 shares of the company's stock worth $48,000 after purchasing an additional 100 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 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 $268,414.50. Following the completion of the transaction, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company's stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock worth $23,269,523 in the last three months. Insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $461.73 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a fifty day moving average price of $453.65 and a 200 day moving average price of $429.61. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47. The firm has a market cap of $102.07 billion, a price-to-earnings ratio of 35.71, a P/E/G ratio of 2.07 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter in the prior year, the business earned $2.45 earnings per share. Trane Technologies's revenue for the quarter was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 14.9 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. Investors of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. BNP Paribas Exane initiated coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price objective for the company. Oppenheimer increased their price objective on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, Wells Fargo & Company increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and an average target price of $506.56.

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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