Trane Technologies plc $TT Shares Sold by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. trimmed its Trane Technologies stake by 2.0% in the fourth quarter, selling 13,645 shares and leaving it with 671,643 shares valued at about $260.8 million.
• Trane Technologies reported strong quarterly results, with EPS of $2.63 beating estimates and revenue of $4.97 billion topping expectations; revenue also rose 6% year over year.
• The company announced a quarterly dividend of $1.05 per share, payable June 30, which annualizes to $4.20 per share for a yield of 0.9%.

ABN AMRO Bank N.V. reduced its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671,643 shares of the company's stock after selling 13,645 shares during the period. Trane Technologies accounts for about 2.5% of ABN AMRO Bank N.V.'s holdings, making the stock its 9th biggest position. ABN AMRO Bank N.V. owned about 0.30% of Trane Technologies worth $260,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. United Community Bank raised its position in shares of Trane Technologies by 134.4% during the 3rd 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. JPL Wealth Management LLC acquired a new position in Trane Technologies in the 3rd quarter valued at $32,000. KERR FINANCIAL PLANNING Corp acquired a new position in Trane Technologies in the 3rd quarter valued at $42,000. Hantz Financial Services Inc. raised its holdings in Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock valued at $45,000 after acquiring an additional 39 shares during the last quarter. Finally, Key Financial Inc raised its holdings in Trane Technologies by 833.3% in the 3rd quarter. Key Financial Inc now owns 112 shares of the company's stock valued at $48,000 after acquiring an additional 100 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Up 0.1%

Shares of Trane Technologies stock opened at $466.59 on Monday. The company has a fifty day moving average price of $448.30 and a 200 day moving average price of $426.70. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The stock has a market cap of $103.14 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 EPS. Equities research analysts forecast that Trane Technologies plc will post 14.87 earnings per share 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. Shareholders of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies's dividend payout ratio is presently 32.48%.

Analyst Ratings Changes

Several research analysts have weighed in on TT shares. Wells Fargo & Company boosted their price target on Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, January 30th. KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price target for the company. Finally, BNP Paribas Exane started coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $505.56.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer directly owned 60,576 shares of the company's stock, valued at $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 62,590 shares of company stock valued at $27,403,514. Corporate insiders own 0.14% of the company's stock.

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.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.