Trane Technologies plc $TT Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in Trane Technologies plc (NYSE:TT) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,056,200 shares of the company’s stock after selling 309,795 shares during the period. Royal Bank of Canada’s holdings in Trane Technologies were worth $440,162,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth about $25,000. Wilkerson Advisory Group LLC boosted its position in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Trane Technologies during the 4th quarter worth approximately $32,000. JPL Wealth Management LLC acquired a new position in Trane Technologies during the third quarter worth approximately $32,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target for the company. Barclays raised their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein set a $555.00 target price on shares of Trane Technologies in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $516.67.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $470.66 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $471.04 and a 200 day moving average price of $451.67. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87. The company has a market cap of $104.04 billion, a P/E ratio of 36.40, a PEG ratio of 2.22 and a beta of 1.19.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the prior year, the business posted $2.45 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 14.89 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate 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.