United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Cuts Stock Position in Trane Technologies plc $TT

Key Points

• United Super Pty Ltd sharply reduced its Trane Technologies stake by 83.6% in the fourth quarter, selling 3,260 shares and ending with 640 shares valued at about $249,000.
• Trane Technologies reported better-than-expected Q1 results, posting EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion, up 6% year over year. The company also raised annual investor returns with a quarterly dividend of $1.05 per share.
• Insider selling has been notable, including CEO David S. Regnery and insider Donald E. Simmons, with 53,654 shares sold by insiders over the last 90 days. Despite this, analysts remain broadly positive, with an average rating of Moderate Buy and a consensus price target of $506.56.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 83.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 640 shares of the company's stock after selling 3,260 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Trane Technologies were worth $249,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TT. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies in the 4th quarter worth $25,000. United Community Bank boosted its stake in shares of Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company's stock worth $32,000 after buying an additional 43 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company's stock worth $35,000 after buying an additional 49 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Trane Technologies in the 3rd quarter worth $42,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company's stock, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,654 shares of company stock valued at $23,269,523 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Down 0.1%

TT opened at $451.68 on Friday. The firm has a market cap of $99.85 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.08 and a beta of 1.25. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $455.43 and a 200 day moving average of $430.04.

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

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.05 dividend. 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 dividend payout ratio is currently 32.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Wells Fargo & Company lifted their target price on Trane Technologies from $375.00 to $400.00 and gave the company an "underweight" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, Citigroup lifted their target price on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Trane Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $506.56.

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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