J. Safra Sarasin Holding AG Sells 33,022 Shares of Trane Technologies plc $TT

J. Safra Sarasin Holding AG reduced its position in Trane Technologies plc (NYSE:TT) by 38.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 52,226 shares of the company’s stock after selling 33,022 shares during the period. J. Safra Sarasin Holding AG’s holdings in Trane Technologies were worth $20,326,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TT. Brighton Jones LLC boosted its holdings in Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in Trane Technologies during the 2nd quarter valued at about $227,000. BLI Banque de Luxembourg Investments acquired a new position in Trane Technologies during the 2nd quarter valued at about $3,674,000. Finally, Trustmark Bank Trust Department boosted its stake in shares of Trane Technologies by 40.1% in the 2nd quarter. Trustmark Bank Trust Department now owns 1,912 shares of the company’s stock valued at $836,000 after purchasing an additional 547 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a research note on Monday, December 15th. Royal Bank Of Canada raised their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Barclays increased their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, UBS Group reduced their price target 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 investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $484.67.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was 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 of the company’s stock, valued at approximately $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,378 shares of company stock worth $21,228,464 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $403.90 on Tuesday. The firm’s 50 day simple moving average is $433.92 and its 200 day simple moving average is $417.55. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a market capitalization of $89.39 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.16 and a beta of 1.19. 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 (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.61 earnings per share. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 32.36%.

About Trane Technologies

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.