Rathbones Group PLC Sells 2,542 Shares of Trane Technologies plc $TT

Rathbones Group PLC reduced its position in Trane Technologies plc (NYSE:TT) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,195 shares of the company’s stock after selling 2,542 shares during the quarter. Rathbones Group PLC’s holdings in Trane Technologies were worth $27,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Trane Technologies in the 2nd quarter worth about $1,356,065,000. JPMorgan Chase & Co. lifted its holdings in Trane Technologies by 10.2% during the third 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Trane Technologies by 229.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares during the period. ABN AMRO Bank N.V. bought a new position in Trane Technologies during the second quarter worth about $291,206,000. Finally, Corient Private Wealth LLC increased its stake in shares of Trane Technologies by 135.4% in the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after purchasing an additional 423,090 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TT shares. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research note on Wednesday, January 7th. UBS Group lowered their target price on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Citigroup increased their target price on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company lifted their price target on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 5,588 shares of Trane Technologies stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,936 shares of company stock worth $4,133,991. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $423.04 on Friday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $93.63 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The stock has a 50-day moving average price of $422.75 and a 200-day moving average price of $417.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the business earned $2.61 earnings per share. Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 28.97%.

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.