Trane Technologies plc $TT Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trane Technologies plc (NYSE:TT) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,340,219 shares of the company’s stock after acquiring an additional 7,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.06% of Trane Technologies worth $910,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. Norges Bank acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $1,163,124,000. JPMorgan Chase & Co. lifted its position 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 valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the last quarter. Capital International Investors acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $324,639,000. Corient Private Wealth LLC lifted its position in shares of Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock valued at $321,757,000 after acquiring an additional 423,090 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Trane Technologies by 13,460.8% during the 4th quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock valued at $164,828,000 after acquiring an additional 420,381 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $457.69 on Friday. The company’s fifty day moving average is $463.44 and its two-hundred day moving average is $433.14. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The company has a market cap of $101.17 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the business earned $2.45 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TT. Evercore began coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Royal Bank Of Canada increased their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. BNP Paribas Exane began coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

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.