LGT Group Foundation Sells 45,722 Shares of Trane Technologies plc (NYSE:TT)

LGT Group Foundation reduced its stake in Trane Technologies plc (NYSE:TT) by 41.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,911 shares of the company’s stock after selling 45,722 shares during the period. LGT Group Foundation’s holdings in Trane Technologies were worth $16,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after acquiring an additional 1,030,247 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. FMR LLC raised its position in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Trane Technologies by 36.4% during the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after purchasing an additional 436,997 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its holdings in shares of Trane Technologies by 31.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock worth $367,784,000 after purchasing an additional 433,388 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The disclosure for this sale can be found here. Insiders have sold 28,237 shares of company stock valued at $8,024,534 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup raised their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays increased their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Stephens lifted their target price on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $292.15.

Trane Technologies Trading Down 0.1 %

TT stock traded down $0.32 during mid-day trading on Thursday, reaching $314.66. The company’s stock had a trading volume of 330,864 shares, compared to its average volume of 1,022,367. Trane Technologies plc has a 12 month low of $162.04 and a 12 month high of $327.09. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $294.39 and its 200 day moving average price is $256.74. The company has a market cap of $71.29 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 10.49 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.07%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.