Trane Technologies plc $TT Stock Holdings Lessened by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272,230 shares of the company’s stock after selling 1,978 shares during the quarter. BNP Paribas Financial Markets’ holdings in Trane Technologies were worth $114,870,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in TT. Aptus Capital Advisors LLC raised its position in shares of Trane Technologies by 169.8% in the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after purchasing an additional 9,276 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Trane Technologies during the 3rd quarter worth $6,571,000. Nordea Investment Management AB boosted its holdings in shares of Trane Technologies by 2.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after buying an additional 57,774 shares during the period. Boston Common Asset Management LLC acquired a new position in Trane Technologies in the 3rd quarter valued at $9,546,000. Finally, Compass Wealth Management LLC raised its holdings in Trane Technologies by 3,785.4% in the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after acquiring an additional 26,498 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 2,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction 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 approximately $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 49,378 shares of company stock valued at $21,228,464. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TT shares. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Royal Bank Of Canada boosted their price objective on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Citigroup increased their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Barclays raised their target price on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, UBS Group cut their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Price Performance

Trane Technologies stock opened at $432.30 on Thursday. The business has a 50 day simple moving average of $425.13 and a 200 day simple moving average of $417.20. 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 company has a market capitalization of $95.68 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.28 and a beta of 1.19. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 earnings per share. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. 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%. Trane Technologies’s dividend payout ratio is 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.