Czech National Bank Raises Stake in Trane Technologies plc $TT

Czech National Bank grew its stake in Trane Technologies plc (NYSE:TT) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,470 shares of the company’s stock after acquiring an additional 1,955 shares during the quarter. Czech National Bank’s holdings in Trane Technologies were worth $22,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Trane Technologies in the second quarter valued at about $1,356,065,000. JPMorgan Chase & Co. raised its stake in Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Trane Technologies by 229.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,752,551 shares of the company’s stock worth $766,583,000 after purchasing an additional 1,220,388 shares during the period. Corient Private Wealth LLC boosted its holdings in Trane Technologies by 135.4% in the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after purchasing an additional 423,090 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Trane Technologies by 13,460.8% in the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after buying an additional 420,381 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 2,389 shares of the business’s 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 sale, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents 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 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Royal Bank Of Canada increased 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. Wells Fargo & Company raised their target price on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 30th. Barclays lifted their target price on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Morgan Stanley decreased their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company 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 $434.47 on Thursday. The company’s 50 day simple moving average is $432.81 and its 200-day simple moving average is $417.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a market capitalization of $96.16 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its 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. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.61 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company 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 of this dividend is Friday, March 6th. This is a boost 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 payout ratio is presently 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.