J. Safra Sarasin Holding AG Sells 33,022 Shares of Trane Technologies plc $TT

J. Safra Sarasin Holding AG reduced its stake in Trane Technologies plc (NYSE:TT) by 38.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,226 shares of the company’s stock after selling 33,022 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Trane Technologies were worth $20,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial Consulate Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at about $25,000. Icon Advisers Inc. Co. acquired a new position in shares of Trane Technologies during the second quarter worth about $26,000. United Community Bank grew its holdings in shares of Trane Technologies by 134.4% during the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Trane Technologies during the third quarter worth about $32,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in Trane Technologies in the 3rd quarter valued at approximately $42,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 1.5%

TT stock opened at $403.90 on Tuesday. The company has a market cap of $89.39 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.16 and a beta of 1.19. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The business has a 50 day moving average price of $433.92 and a two-hundred day moving average price of $417.55. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

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

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is currently 32.36%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TT shares. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Citigroup boosted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Oppenheimer raised their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Insider Activity

In other news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is owned by insiders.

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.