Park Avenue Securities LLC Reduces Position in Trane Technologies plc $TT

Park Avenue Securities LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 10.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,777 shares of the company’s stock after selling 1,867 shares during the quarter. Park Avenue Securities LLC’s holdings in Trane Technologies were worth $6,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Financial Consulate Inc. purchased a new position in shares of Trane Technologies in the third quarter valued at about $25,000. Icon Advisers Inc. Co. purchased a new stake in shares of Trane Technologies during the second quarter worth about $26,000. United Community Bank grew its stake in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies in the third quarter worth about $32,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Trane Technologies during the 3rd quarter valued at about $42,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the business’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 sale, the chief executive officer owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Elizabeth A. Elwell sold 635 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,378 shares of company stock valued at $21,228,464 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TT. UBS Group cut their price objective on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Citigroup upped their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a report on Friday, January 30th. Oppenheimer lifted their price target on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Morgan Stanley reduced their price objective on shares of 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, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Down 3.0%

Shares of NYSE:TT opened at $410.35 on Friday. The firm has a market capitalization of $90.82 billion, a P/E ratio of 31.61, a P/E/G ratio of 2.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a 50 day moving average price of $430.25 and a 200-day moving average price of $417.29. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37.

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

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

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.