Trane Technologies plc $TT Shares Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Trane Technologies by 4.7%, buying 14,956 shares to hold 330,332 shares worth about $139.4 million (roughly 0.15% of the company).
• Trane beat expectations for the quarter with EPS of $2.86 versus $2.81 and revenue of $5.14 billion (up 5.6% year‑over‑year); analysts rate the stock a "Moderate Buy" with an average price target of $484.67.
• The company raised its quarterly dividend to $1.05 (annualized $4.20, ~1.0% yield), while insiders have sold 8,936 shares (~$4.13M) in the past 90 days and now own about 0.14% of the stock.

Natixis Advisors LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,332 shares of the company's stock after purchasing an additional 14,956 shares during the quarter. Natixis Advisors LLC owned about 0.15% of Trane Technologies worth $139,387,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Icon Advisers Inc. Co. purchased a new position in shares of Trane Technologies during the 2nd quarter worth approximately $26,000. Financial Consulate Inc. purchased a new position in Trane Technologies in the 3rd quarter valued at approximately $25,000. United Community Bank raised its holdings in Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after purchasing an additional 43 shares during the last quarter. Halbert Hargrove Global Advisors LLC boosted its position in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock worth $43,000 after purchasing an additional 26 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock valued at $45,000 after purchasing an additional 39 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 13th. Citigroup lifted their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Bank of America upgraded Trane Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. Finally, KeyCorp raised shares of Trane Technologies from a "sector weight" rating to an "overweight" rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $484.67.

Trane Technologies Stock Performance

NYSE:TT opened at $423.04 on Friday. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The firm has a 50-day moving average of $422.75 and a two-hundred day moving average of $417.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a market cap of $93.63 billion, a P/E ratio of 32.59, a PEG ratio of 2.23 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for 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%.Trane Technologies's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 EPS. On average, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies's previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies's dividend payout ratio is 28.97%.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 822 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total value of $380,232.54. Following the completion of the transaction, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,766,554.83. The trade was a 17.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares of the company's stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,936 shares of company stock worth $4,133,991. 0.14% of the stock is currently owned by corporate insiders.

Trane Technologies 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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