Trane Technologies plc $TT Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in Trane Technologies by 1.0% in Q4 to 20,020,321 shares, representing about 9.03% of the company and valued at roughly $7.79 billion.
• CEO David S. Regnery sold 36,045 shares at about $422.69 each (≈$15.24 million), part of insider sales totaling 57,997 shares worth $25.1 million over the last 90 days, leaving insiders with just 0.14% ownership.
• Analysts maintain a consensus of "Moderate Buy" with an average target price of $492.94, while recent broker actions include Evercore's $535 outperform call and JPMorgan's $460 neutral rating.

Vanguard Group Inc. increased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,020,321 shares of the company's stock after buying an additional 192,270 shares during the period. Vanguard Group Inc. owned about 9.03% of Trane Technologies worth $7,791,909,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TT. OneAscent Wealth Management LLC boosted its stake in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company's stock valued at $686,000 after acquiring an additional 24 shares during the period. Bridgewater Advisors Inc. raised its position in shares of Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company's stock worth $285,000 after purchasing an additional 24 shares during the period. West Family Investments Inc. raised its position in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock worth $452,000 after purchasing an additional 24 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of Trane Technologies by 0.3% in the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock worth $2,959,000 after purchasing an additional 24 shares during the last quarter. Finally, Mather Group LLC. boosted its position in Trane Technologies by 2.7% during the 3rd quarter. Mather Group LLC. now owns 966 shares of the company's stock valued at $408,000 after purchasing an additional 25 shares during the period. Institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TT. JPMorgan Chase & Co. upped their price objective on Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an "outperform" rating and a $535.00 price target for the company. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Morgan Stanley dropped their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a report on Tuesday, January 13th. Finally, KeyCorp lifted their price objective on shares of Trane Technologies from $500.00 to $525.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $492.94.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 96,948 shares of the company's stock, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 3,819 shares of the company's stock, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 57,997 shares of company stock worth $25,107,014. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Price Performance

NYSE TT opened at $486.88 on Monday. Trane Technologies plc has a 12 month low of $343.09 and a 12 month high of $490.15. The firm has a market capitalization of $107.66 billion, a PE ratio of 37.51, a P/E/G ratio of 2.56 and a beta of 1.21. The company's 50 day simple moving average is $445.72 and its 200 day simple moving average is $423.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 earnings per share. As a group, equities research analysts forecast that Trane Technologies plc will post 14.75 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed 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 32.36%.

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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