Trane Technologies plc $TT Shares Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One reduced its Trane Technologies stake by 2.3% in the third quarter, selling 2,495 shares and retaining 107,185 shares valued at approximately $48.4 million. Institutional investors collectively own 82.97% of the company.
• Trane Technologies reported quarterly EPS of $4.31 and revenue of $6.35 billion, exceeding analyst expectations, while revenue increased 10.6% year over year.
• The company declared a quarterly dividend of $1.05, or $4.20 annually, representing a 0.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $539.42, above the reported share price of $449.22.

Asset Management One Co. Ltd. cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,185 shares of the company's stock after selling 2,495 shares during the period. Asset Management One Co. Ltd.'s holdings in Trane Technologies were worth $48,445,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TT. Toth Financial Advisory Corp boosted its position in shares of Trane Technologies by 10.6% during the 3rd quarter. Toth Financial Advisory Corp now owns 239 shares of the company's stock worth $108,000 after acquiring an additional 23 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in shares of Trane Technologies by 1.9% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 1,257 shares of the company's stock valued at $568,000 after acquiring an additional 23 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Trane Technologies by 14.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 190 shares of the company's stock valued at $79,000 after acquiring an additional 24 shares during the last quarter. Westfuller Advisors LLC raised its position in shares of Trane Technologies by 5.9% during the 1st quarter. Westfuller Advisors LLC now owns 447 shares of the company's stock worth $186,000 after acquiring an additional 25 shares in the last quarter. Finally, NFSG Corp raised its position in shares of Trane Technologies by 4.8% during the 1st quarter. NFSG Corp now owns 546 shares of the company's stock worth $228,000 after acquiring an additional 25 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT opened at $449.22 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The stock has a 50 day moving average of $451.88 and a two-hundred day moving average of $453.61. The stock has a market cap of $98.84 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.08 and a beta of 1.15.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.27 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $3.88 earnings per share. On average, research analysts forecast that Trane Technologies plc will post 15.32 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be given a $1.05 dividend. The ex-dividend date is Friday, December 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is 31.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group upgraded Trane Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $548.00 to $565.00 in a research note on Wednesday, October 14th. Weiss Ratings upgraded shares of Trane Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 10th. Wall Street Zen cut shares of Trane Technologies from a "buy" rating to a "hold" rating in a report on Sunday, August 30th. Citigroup reduced their price objective on shares of Trane Technologies from $570.00 to $566.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Finally, Mizuho boosted their price objective on shares of Trane Technologies from $475.00 to $485.00 and gave the stock a "neutral" rating in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $539.42.

Insider Buying and Selling

In related news, CEO David Regnery sold 48,091 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. This represents a 33.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.

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