Aberdeen Group plc Sells 11,447 Shares of Trane Technologies plc $TT

Aberdeen Group plc cut its position in shares of Trane Technologies plc (NYSE:TT) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 414,107 shares of the company’s stock after selling 11,447 shares during the quarter. Aberdeen Group plc owned 0.19% of Trane Technologies worth $161,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Trane Technologies by 10.2% during the 3rd 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 in the last quarter. State Street Corp lifted its position in Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock worth $4,407,904,000 after purchasing an additional 31,826 shares during the period. Nordea Investment Management AB boosted its stake in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. Bank of America Corp DE increased its holdings in Trane Technologies by 9.2% in the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock valued at $1,022,278,000 after buying an additional 203,766 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Trane Technologies by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company’s stock valued at $793,378,000 after buying an additional 44,243 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald E. Simmons sold 3,762 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,378 shares of company stock valued at $21,228,464 in the last 90 days. Insiders own 0.14% of the company’s stock.

Trane Technologies Trading Down 0.2%

Shares of Trane Technologies stock opened at $427.43 on Friday. The stock has a market capitalization of $94.60 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21. 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 company has a 50-day simple moving average of $435.94 and a 200 day simple moving average of $417.81. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $479.37.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 earnings per share. Research analysts expect 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. Stockholders of record on Friday, March 6th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

Several analysts have recently weighed in on TT shares. Oppenheimer lifted their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Morgan Stanley dropped their price target on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Citigroup raised their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. increased their target price on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.