Swiss Life Asset Management Ltd Reduces Position in Trane Technologies plc $TT

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

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Consulate Inc. purchased a new stake in Trane Technologies during the 3rd quarter worth about $25,000. Icon Advisers Inc. Co. purchased a new position in Trane Technologies in the 2nd quarter valued at about $26,000. United Community Bank lifted its holdings in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter worth about $32,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the third quarter worth about $42,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TT shares. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, January 21st. Oppenheimer increased their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Morgan Stanley decreased 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. Royal Bank Of Canada lifted their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Performance

NYSE TT opened at $426.66 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $479.37. The firm has a market capitalization of $94.43 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.24 and a beta of 1.19. The business’s 50-day simple moving average is $428.78 and its 200-day simple moving average is $417.24.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating 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 firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the firm posted $2.61 earnings per share. Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. 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 dividend on an annualized basis and a yield of 1.0%. Trane Technologies’s dividend payout ratio is currently 32.36%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This trade represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,378 shares of company stock valued at $21,228,464 in the last 90 days. 0.14% of the stock is currently owned by company 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.