Trane Technologies plc $TT Shares Sold by Daiwa Securities Group Inc.

Key Points

• Daiwa Securities Group Inc. cut its Trane Technologies stake by 8.3% in the fourth quarter, selling 8,747 shares and leaving it with 96,787 shares valued at about $37.7 million.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $506.56. Several firms recently raised targets, including KeyCorp to $555 and Evercore/BNP Paribas Exane with outperform ratings.
• Trane Technologies reported strong quarterly results, beating EPS and revenue expectations, while also announcing a $1.05 quarterly dividend. The company’s stock traded around $464.23 and insiders have recently sold shares through pre-arranged trading plans.

Daiwa Securities Group Inc. lowered its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,787 shares of the company's stock after selling 8,747 shares during the period. Daiwa Securities Group Inc.'s holdings in Trane Technologies were worth $37,670,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Trane Technologies by 119.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Trane Technologies in the third quarter valued at approximately $42,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Evercore assumed coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective for the company. KeyCorp lifted their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. BNP Paribas Exane assumed coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target for the company. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $506.56.

Trane Technologies Trading Down 0.3%

NYSE TT opened at $464.23 on Friday. 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 52 week low of $348.06 and a 52 week high of $503.47. The stock has a market capitalization of $102.62 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.15 and a beta of 1.20. The firm has a 50 day moving average of $458.41 and a two-hundred day moving average of $431.16.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.81 billion. During the same quarter in the previous year, the business posted $2.45 EPS. The firm's revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies's payout ratio is currently 32.48%.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company's stock, valued at $1,909,500. This represents a 54.60% decrease in their position. 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. 0.43% of the stock is currently owned by insiders.

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.

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.