Trane Technologies plc $TT Shares Sold by Aberdeen Group plc

Aberdeen Group plc cut its stake in shares of Trane Technologies plc (NYSE:TT) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,554 shares of the company’s stock after selling 6,508 shares during the quarter. Aberdeen Group plc owned approximately 0.19% of Trane Technologies worth $178,609,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Ameritas Advisory Services LLC boosted its position in shares of Trane Technologies by 162.6% during the third quarter. Ameritas Advisory Services LLC now owns 1,158 shares of the company’s stock worth $489,000 after buying an additional 717 shares during the period. Metis Global Partners LLC boosted its position in Trane Technologies by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 11,047 shares of the company’s stock worth $4,661,000 after acquiring an additional 64 shares during the period. Public Sector Pension Investment Board boosted its position in Trane Technologies by 3.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 69,567 shares of the company’s stock worth $29,354,000 after acquiring an additional 2,322 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Trane Technologies by 0.9% during the third quarter. Illinois Municipal Retirement Fund now owns 28,325 shares of the company’s stock valued at $11,952,000 after purchasing an additional 242 shares during the period. Finally, Wedbush Securities Inc. raised its stake in shares of Trane Technologies by 3.6% during the third quarter. Wedbush Securities Inc. now owns 5,859 shares of the company’s stock valued at $2,472,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $465.04 on Friday. The firm’s 50 day moving average is $403.90 and its 200 day moving average is $414.44. The stock has a market capitalization of $102.93 billion, a P/E ratio of 35.83, a PEG ratio of 2.45 and a beta of 1.21. 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.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the firm posted $2.61 EPS. The business’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 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 0.9%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is 32.36%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 5,588 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $462.60, for a total transaction of $2,585,008.80. Following the completion of the transaction, the chief executive officer owned 96,948 shares of the company’s stock, valued at approximately $44,848,144.80. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 60,486 shares in the company, valued at $27,986,872.20. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,936 shares of company stock worth $4,133,991 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on TT. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a research note on Monday, December 15th. Oppenheimer boosted their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Morgan Stanley lowered their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Finally, Barclays upped their price objective on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.67.

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.