Trane Technologies plc $TT Stock Position Reduced by Universal Beteiligungs und Servicegesellschaft mbH
by Amy Steele · The Cerbat GemUniversal Beteiligungs und Servicegesellschaft mbH lessened its position in shares of Trane Technologies plc (NYSE:TT – Free Report) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 377,011 shares of the company’s stock after selling 21,988 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Trane Technologies were worth $146,911,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Consulate Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $25,000. United Community Bank raised its position in shares of Trane Technologies by 134.4% during the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $32,000. Halbert Hargrove Global Advisors LLC raised its position in shares of Trane Technologies by 34.2% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after purchasing an additional 26 shares during the period. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $42,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,997 shares of company stock valued at $25,107,014 in the last quarter. 0.14% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have recently weighed in on TT shares. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research report on Wednesday, January 7th. Wells Fargo & Company increased their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Royal Bank Of Canada increased their price target 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. Citigroup increased their price target on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $492.94.
Read Our Latest Analysis on Trane Technologies
Trane Technologies Stock Up 0.4%
TT opened at $479.26 on Wednesday. Trane Technologies plc has a 12 month low of $324.78 and a 12 month high of $484.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a market cap of $106.07 billion, a P/E ratio of 36.92, a P/E/G ratio of 2.51 and a beta of 1.21. The stock’s 50 day moving average price is $444.67 and its 200 day moving average price is $422.31.
Trane Technologies (NYSE:TT – Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the firm earned $2.61 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 14.76 earnings per share for the current year.
Trane Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 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.
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