Baader Bank Aktiengesellschaft Lowers Position in Trane Technologies plc $TT

Baader Bank Aktiengesellschaft cut its holdings in Trane Technologies plc (NYSE:TT) by 53.7% in the fourth quarter, Holdings Channel reports. The fund owned 3,390 shares of the company’s stock after selling 3,931 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Trane Technologies were worth $1,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. United Community Bank raised its holdings in 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 in the last quarter. JPL Wealth Management LLC bought a new position in Trane Technologies in the third quarter worth about $32,000. KERR FINANCIAL PLANNING Corp bought a new position in Trane Technologies in the third quarter worth about $42,000. Hantz Financial Services Inc. raised its holdings in Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 39 shares in the last quarter. Finally, Key Financial Inc raised its holdings in Trane Technologies by 833.3% in the third quarter. Key Financial Inc now owns 112 shares of the company’s stock worth $48,000 after purchasing an additional 100 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company’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 owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TT shares. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $505.56.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $470.52 on Thursday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $503.47. The company’s 50 day moving average is $449.02 and its 200 day moving average is $428.20. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $104.01 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.25.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $2.45 EPS. Trane Technologies’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 14.87 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 is currently 32.48%.

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.