Savant Capital LLC Sells 14,206 Shares of Trane Technologies plc $TT

Key Points

• Savant Capital LLC cut its Trane Technologies stake by 68.8% in the fourth quarter, selling 14,206 shares and leaving it with 6,457 shares valued at about $2.51 million.
• Wall Street sentiment remains constructive on TT, with analysts issuing multiple overweight/buy ratings and an average Moderate Buy rating; the consensus price target is about $506.56.
• Trane Technologies reported better-than-expected quarterly results with EPS of $2.63 and revenue of $4.97 billion, and it also announced a quarterly dividend of $1.05 per share payable June 30.

Savant Capital LLC decreased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 68.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,457 shares of the company's stock after selling 14,206 shares during the quarter. Savant Capital LLC's holdings in Trane Technologies were worth $2,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company's stock worth $7,791,909,000 after acquiring an additional 192,270 shares during the last quarter. JPMorgan Chase & Co. lifted 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 buying an additional 1,433,563 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trane Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company's stock valued at $1,964,896,000 after buying an additional 14,179 shares in the last quarter. Nordea Investment Management AB lifted its stake in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock valued at $1,010,419,000 after buying an additional 72,998 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Trane Technologies by 9.2% in the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock valued at $1,022,278,000 after buying an additional 203,766 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TT. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $506.56.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,654 shares of company stock valued at $23,269,523 in the last ninety days. Corporate insiders own 0.43% of the company's stock.

Trane Technologies Price Performance

NYSE TT opened at $451.68 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a market capitalization of $99.84 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. The firm's 50 day moving average is $455.43 and its 200-day moving average is $430.02.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period last year, the company earned $2.45 earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company 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. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's payout ratio is presently 32.48%.

About Trane Technologies

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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