Trane Technologies plc $TT Stake Raised by BLI Banque de Luxembourg Investments

Key Points

• BLI Banque de Luxembourg Investments increased its Trane Technologies stake by 45.9% in the fourth quarter, bringing its holdings to 12,400 shares valued at about $4.86 million.
• Trane Technologies posted strong quarterly results, with earnings of $2.63 per share 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, and analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $506.56.

BLI Banque de Luxembourg Investments raised its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 45.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,400 shares of the company's stock after acquiring an additional 3,900 shares during the quarter. BLI Banque de Luxembourg Investments' holdings in Trane Technologies were worth $4,860,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies in the 4th quarter worth $32,000. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the third quarter worth $32,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Trane Technologies by 119.5% during 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 during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the third quarter valued at $42,000. Institutional investors own 82.97% of the company's stock.

Trane Technologies Price Performance

Shares of TT opened at $470.24 on Wednesday. The business's 50-day moving average is $461.08 and its 200-day moving average is $432.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a market capitalization of $103.95 billion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

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 business had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. During the same period last year, the company posted $2.45 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is presently 32.48%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Citigroup lifted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Evercore initiated coverage on shares of Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Barclays boosted their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Finally, KeyCorp upped their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $506.56.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company's stock in a transaction dated Wednesday, April 8th. The stock was 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 in the company, valued at approximately $27,259,200. The trade was a 12.46% 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. Insiders own 0.43% of the company's stock.

Trane Technologies Company 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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