SG Americas Securities LLC Grows Stock Holdings in Trane Technologies plc $TT

SG Americas Securities LLC grew its position in Trane Technologies plc (NYSE:TT) by 13,460.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 423,504 shares of the company’s stock after buying an additional 420,381 shares during the period. SG Americas Securities LLC’s holdings in Trane Technologies were worth $164,828,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Financial Consulate Inc. purchased a new stake in Trane Technologies during the third quarter valued at approximately $25,000. Icon Advisers Inc. Co. purchased a new position in Trane Technologies in the second quarter worth $26,000. United Community Bank grew its holdings in 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 last quarter. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the third quarter worth $32,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at $42,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $425.49 on Tuesday. The business has a fifty day moving average of $431.05 and a 200 day moving average of $417.45. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The firm has a market capitalization of $94.18 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the previous year, the business earned $2.61 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

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

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares in the company, valued at $3,001,170. This represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,378 shares of company stock worth $21,228,464. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. JPMorgan Chase & Co. increased their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Barclays raised their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Wednesday, January 7th. Finally, UBS Group decreased their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

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.