Firetrail Investments PTY Ltd. Sells 13,093 Shares of Trane Technologies plc $TT

Firetrail Investments PTY Ltd. decreased its stake in Trane Technologies plc (NYSE:TT) by 40.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,584 shares of the company’s stock after selling 13,093 shares during the period. Trane Technologies comprises approximately 2.5% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 20th biggest position. Firetrail Investments PTY Ltd.’s holdings in Trane Technologies were worth $7,659,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. United Community Bank boosted its position in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth about $32,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Trane Technologies during the 3rd quarter worth about $42,000. Hantz Financial Services Inc. grew its holdings in Trane Technologies by 58.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after purchasing an additional 39 shares during the last quarter. Finally, Key Financial Inc raised its position in Trane Technologies by 833.3% in the 3rd quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after purchasing an additional 100 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TT. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. BNP Paribas Exane started coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target for the company. Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Finally, Barclays upped their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $505.56.

Trane Technologies Stock Performance

Trane Technologies stock opened at $466.59 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company has a market capitalization of $103.14 billion, a PE ratio of 36.09, a P/E/G ratio of 2.15 and a beta of 1.25. The company has a 50 day moving average price of $448.30 and a 200-day moving average price of $426.70. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 earnings per share. As a group, equities analysts forecast that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is presently 32.48%.

Insider Transactions at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at approximately $40,978,950.12. This trade represents a 27.10% 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 62,590 shares of company stock worth $27,403,514. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies 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.