Trane Technologies plc $TT Stock Position Reduced by Vancity Investment Management Ltd

Vancity Investment Management Ltd decreased its position in Trane Technologies plc (NYSE:TT) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,297 shares of the company’s stock after selling 2,022 shares during the quarter. Trane Technologies accounts for approximately 2.1% of Vancity Investment Management Ltd’s holdings, making the stock its 19th largest position. Vancity Investment Management Ltd’s holdings in Trane Technologies were worth $15,294,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in Trane Technologies in the fourth quarter worth $25,000. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the third quarter worth $32,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies during the fourth quarter worth $32,000. Kemnay Advisory Services Inc. bought a new position in shares of Trane Technologies in the 4th quarter worth about $34,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after buying an additional 49 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Citigroup upped their target price on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Sanford C. Bernstein started coverage on Trane Technologies in a research note on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective for the company. Finally, Barclays increased their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Stock Up 2.4%

Shares of Trane Technologies stock opened at $483.88 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $503.47. The business’s fifty day moving average price is $467.20 and its two-hundred day moving average price is $434.88. The company has a market capitalization of $106.96 billion, a P/E ratio of 37.42, a PEG ratio of 2.18 and a beta of 1.20.

Trane Technologies (NYSE:TT) last released its quarterly earnings results 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 during 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%.The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.45 earnings per share. As a group, research analysts forecast that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio is currently 32.48%.

Trane Technologies Company 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.