Renaissance Technologies LLC Sells 108,880 Shares of Trane Technologies plc $TT

Renaissance Technologies LLC trimmed its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 35.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 198,948 shares of the company's stock after selling 108,880 shares during the period. Renaissance Technologies LLC owned 0.09% of Trane Technologies worth $82,910,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Wilkerson Advisory Group LLC grew its holdings in shares of Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at about $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the 3rd quarter valued at about $32,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in Trane Technologies in the first quarter worth about $33,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. Barclays upped their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Sanford C. Bernstein set a $555.00 target price on Trane Technologies in a research report on Thursday, July 9th. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $516.67.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Stock Up 0.3%

Shares of NYSE TT opened at $481.09 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 $106.34 billion, a P/E ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.19. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm has a 50-day simple moving average of $470.13 and a two-hundred day simple moving average of $449.87.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.45 earnings per share. Research analysts anticipate that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's 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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