Trane Technologies plc $TT Stock Position Trimmed by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer trimmed its position in Trane Technologies by 1.9% to 120,200 shares (about $46.8M), while several other institutional investors materially increased stakes—leaving 82.97% institutional ownership.
• A string of analysts raised price targets (e.g., KeyCorp to $555, Citigroup to $570, Evercore initiating at $535), leaving a MarketBeat consensus of "Moderate Buy" with an average target of $505.56.
• Trane beat quarterly estimates with EPS $2.63 (vs. $2.53 est.) and revenue $4.97B (vs. $4.81B), and announced a $1.05 quarterly dividend (0.9% yield; ex-dividend June 5).

ASR Vermogensbeheer N.V. cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,200 shares of the company's stock after selling 2,272 shares during the quarter. ASR Vermogensbeheer N.V. owned about 0.05% of Trane Technologies worth $46,783,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TT. JPMorgan Chase & Co. lifted its position in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after purchasing an additional 1,433,563 shares during the last quarter. Corient Private Wealth LLC lifted its position in Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock valued at $321,757,000 after purchasing an additional 423,090 shares during the last quarter. SG Americas Securities LLC lifted its position in Trane Technologies by 13,460.8% in the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock valued at $164,828,000 after purchasing an additional 420,381 shares during the last quarter. Credit Agricole S A bought a new stake in Trane Technologies in the 3rd quarter valued at about $118,129,000. Finally, Danske Bank A S bought a new stake in Trane Technologies in the 3rd quarter valued at about $88,959,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. KeyCorp boosted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Citigroup boosted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Evercore assumed coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an "outperform" rating and a $535.00 price target on the stock. One investment 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 issued a Sell rating to the company. According to MarketBeat.com, Trane Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $505.56.

Trane Technologies Stock Performance

Shares of TT opened at $470.01 on Friday. The firm's 50 day moving average is $448.30 and its 200-day moving average is $426.70. The stock has a market capitalization of $103.90 billion, a P/E ratio of 36.35, a P/E/G ratio of 2.25 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for 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 business's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 EPS. Equities research analysts anticipate that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Buying and Selling at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction that occurred on 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 transaction, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Trane Technologies 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 completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 62,590 shares of company stock worth $27,403,514. 0.14% of the stock is currently owned by company 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.

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