Compagnie Lombard Odier SCmA Trims Stake in Trane Technologies plc $TT

Compagnie Lombard Odier SCmA trimmed its position in Trane Technologies plc (NYSE:TT) by 16.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,771 shares of the company’s stock after selling 22,958 shares during the quarter. Compagnie Lombard Odier SCmA owned 0.05% of Trane Technologies worth $47,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Old Port Advisors increased its stake in shares of Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after buying an additional 24 shares during the period. OneAscent Wealth Management LLC lifted its stake in Trane Technologies by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after acquiring an additional 24 shares during the period. Bridgewater Advisors Inc. grew its holdings in Trane Technologies by 3.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock worth $285,000 after acquiring an additional 24 shares in the last quarter. West Family Investments Inc. increased its position in Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after purchasing an additional 24 shares during the period. Finally, Cresset Asset Management LLC increased its position in Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after purchasing an additional 24 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research report on Wednesday, January 7th. UBS Group cut their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Oppenheimer upped their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Insiders Place Their Bets

In other news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 49,378 shares of company stock valued at $21,228,464. 0.14% of the stock is owned by corporate insiders.

Trane Technologies Trading Up 2.9%

NYSE:TT opened at $428.77 on Thursday. The stock has a market capitalization of $94.90 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.20 and a beta of 1.19. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $435.19 and a 200 day moving average of $417.74.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $2.61 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

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.