Phoenix Financial Ltd. Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Key Points

• Phoenix Financial Ltd. reduced its stake in Trane Technologies by 31.2%, selling 6,564 shares, and currently holds 14,477 shares valued at approximately $4.88 million.
• Multiple analysts have upgraded Trane Technologies, including HSBC and Citigroup, with a consensus rating of "Moderate Buy" and an average price target of $441.40.
• Trane Technologies recently reported $2.45 earnings per share for the quarter, exceeding estimates, with revenue up 11.2% year-over-year, and announced a quarterly dividend of $0.94 per share.

Phoenix Financial Ltd. trimmed its position in Trane Technologies plc (NYSE:TT - Free Report) by 31.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,477 shares of the company's stock after selling 6,564 shares during the period. Phoenix Financial Ltd.'s holdings in Trane Technologies were worth $4,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TT. Norges Bank purchased a new position in shares of Trane Technologies during the 4th quarter valued at about $1,117,816,000. GAMMA Investing LLC raised its stake in Trane Technologies by 35,458.2% during the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after purchasing an additional 2,010,123 shares during the period. Northern Trust Corp increased its stake in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after acquiring an additional 429,953 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Trane Technologies by 27.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,915,630 shares of the company's stock worth $645,343,000 after acquiring an additional 410,734 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Trane Technologies in the 4th quarter worth approximately $147,251,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TT. Citigroup boosted their target price on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Barclays upped their target price on Trane Technologies from $476.00 to $480.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Robert W. Baird upped their price objective on Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective for the company in a research note on Thursday, May 1st. Finally, HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $405.00 to $415.00 in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $441.40.

Trane Technologies Stock Down 0.4%

NYSE:TT traded down $1.70 during mid-day trading on Tuesday, hitting $470.84. 1,124,717 shares of the company's stock traded hands, compared to its average volume of 1,472,503. The company has a fifty day moving average of $433.99 and a 200 day moving average of $386.90. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a market capitalization of $105.01 billion, a P/E ratio of 39.18, a P/E/G ratio of 3.07 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company's revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 earnings per share. On average, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.80%. Trane Technologies's payout ratio is 31.28%.

Insider Activity at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider owned 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% 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. 0.38% of the stock is owned by insiders.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.