Securian Asset Management Inc. Cuts Position in Trane Technologies plc $TT

Securian Asset Management Inc. trimmed its position in Trane Technologies plc (NYSE:TT) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,030 shares of the company’s stock after selling 4,742 shares during the quarter. Securian Asset Management Inc.’s holdings in Trane Technologies were worth $2,347,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. United Community Bank raised its holdings in shares of Trane Technologies by 134.4% in the 3rd 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 in the 3rd quarter worth about $32,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Trane Technologies in the 3rd quarter worth about $42,000. Hantz Financial Services Inc. raised its holdings in shares of Trane Technologies by 58.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 39 shares during the period. Finally, Key Financial Inc raised its holdings in shares of 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. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 53,654 shares of company stock worth $23,269,523 in the last quarter. Company insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

TT stock opened at $476.26 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The firm has a market cap of $105.28 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.25. The stock has a 50-day simple moving average of $448.82 and a 200-day simple moving average of $427.40.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the firm earned $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that Trane Technologies plc will post 14.87 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is 32.48%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 30th. BNP Paribas Exane began coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price for the company. KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Morgan Stanley lowered their target price on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada increased their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $505.56.

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.