Trane Technologies plc $TT Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 10.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,454 shares of the company’s stock after selling 1,460 shares during the period. Park Avenue Securities LLC’s holdings in Trane Technologies were worth $5,629,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TT. Amundi raised its holdings in shares of Trane Technologies by 47.8% during the first quarter. Amundi now owns 2,174,396 shares of the company’s stock worth $906,158,000 after acquiring an additional 703,018 shares in the last quarter. Janus Henderson Group PLC boosted its position in Trane Technologies by 10.6% during the first quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock valued at $782,707,000 after purchasing an additional 180,537 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Trane Technologies by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock valued at $431,347,000 after purchasing an additional 32,286 shares during the last quarter. Ninety One UK Ltd grew its stake in Trane Technologies by 0.4% in the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock valued at $418,835,000 after purchasing an additional 3,624 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after purchasing an additional 234,666 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer owned 96,951 shares of the company’s stock, valued at $46,536,480. This represents a 33.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TT has been the topic of several research reports. Evercore upped their target price on Trane Technologies from $560.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. assumed coverage on Trane Technologies in a report on Friday, October 9th. They set an “overweight” rating and a $550.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Trane Technologies from $515.00 to $499.00 and set a “hold” rating for the company in a report on Wednesday, September 30th. Robert W. Baird boosted their price target on Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded Trane Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $539.42.

Trane Technologies Stock Performance

NYSE TT opened at $449.22 on Thursday. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The firm has a market capitalization of $98.84 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.08 and a beta of 1.15. The company’s fifty day moving average is $451.88 and its two-hundred day moving average is $453.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 0.76.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the firm posted $3.88 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts forecast that Trane Technologies plc will post 15.32 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be paid a $1.05 dividend. The ex-dividend date is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 31.82%.

Trane Technologies Company Profile

Trane Technologies plc is a global climate technology company that develops solutions for heating, ventilation, air conditioning, refrigeration and building management. Its products and services are designed to improve indoor comfort, energy efficiency and the sustainability of commercial, industrial, residential and institutional buildings.

The company operates through well-known brands including Trane, Thermo King and Frigoblock. Trane provides HVAC equipment, building controls, digital solutions, maintenance and energy services, while Thermo King and Frigoblock offer temperature-control systems for refrigerated transportation.