Bessemer Group Inc. Has $2.92 Million Stock Position in Trane Technologies plc $TT

Bessemer Group Inc. lowered its stake in Trane Technologies plc (NYSE:TT) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,680 shares of the company’s stock after selling 46 shares during the quarter. Bessemer Group Inc.’s holdings in Trane Technologies were worth $2,922,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ethic Inc. increased its position in shares of Trane Technologies by 6.6% in the 2nd quarter. Ethic Inc. now owns 26,836 shares of the company’s stock valued at $11,601,000 after buying an additional 1,672 shares in the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Trane Technologies in the 2nd quarter valued at $345,000. Triton Financial Group Inc bought a new stake in shares of Trane Technologies in the 2nd quarter valued at $1,273,000. Jones Financial Companies Lllp increased its position in shares of Trane Technologies by 350.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company’s stock valued at $7,140,000 after buying an additional 16,485 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its holdings in Trane Technologies by 11.0% during the 1st quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company’s stock worth $2,772,000 after purchasing an additional 812 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares in the company, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Barclays lowered their target price on Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a report on Tuesday, September 16th. JPMorgan Chase & Co. increased their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Citigroup lowered their target price on Trane Technologies from $499.00 to $494.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $464.29.

Trane Technologies Price Performance

Shares of NYSE TT opened at $426.66 on Thursday. The stock has a market capitalization of $94.94 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.65 and a beta of 1.12. The business has a 50-day moving average of $416.34 and a 200-day moving average of $417.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.Trane Technologies’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is presently 29.82%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.