Banque Transatlantique SA Invests $26.95 Million in Trane Technologies plc $TT

Banque Transatlantique SA acquired a new position in Trane Technologies plc (NYSE:TT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,980 shares of the company’s stock, valued at approximately $26,953,000.

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

Analyst Upgrades and Downgrades

TT has been the subject of several research analyst reports. UBS Group reduced their price target 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. Oppenheimer raised their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Citigroup lifted their price target on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company boosted their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Finally, KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Monday, December 15th. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Price Performance

TT stock opened at $422.66 on Friday. The business’s fifty day moving average price is $426.27 and its 200 day moving average price is $417.25. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $93.55 billion, a PE ratio of 32.56, a P/E/G ratio of 2.22 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 29th. The company reported $2.86 EPS 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 firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the company posted $2.61 earnings per share. Trane Technologies’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

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

Insider Buying and Selling

In other news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,105,390.30. Following the transaction, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 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 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.