Trane Technologies plc $TT Shares Sold by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd lowered its position in shares of Trane Technologies plc (NYSE:TT) by 9.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,966 shares of the company’s stock after selling 6,672 shares during the period. Swiss Life Asset Management Ltd’s holdings in Trane Technologies were worth $28,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Trane Technologies in the 2nd quarter valued at about $227,000. Rockefeller Capital Management L.P. boosted its position in Trane Technologies by 7.4% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 27,909 shares of the company’s stock valued at $12,208,000 after buying an additional 1,934 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Trane Technologies by 4.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 75,011 shares of the company’s stock valued at $32,811,000 after acquiring an additional 3,347 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the sale, the chief financial officer directly owned 60,486 shares in the company, valued at approximately $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 49,378 shares of company stock worth $21,228,464. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TT shares. Barclays lifted their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Wells Fargo & Company raised their price objective on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. Morgan Stanley dropped their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Oppenheimer upped their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Trading Up 0.3%

NYSE TT opened at $426.66 on Thursday. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37. The company has a 50-day simple moving average of $428.78 and a 200-day simple moving average of $417.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The firm has a market capitalization of $94.43 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a $1.05 dividend. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is 32.36%.

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.