GRIMES & Co WEALTH MANAGEMENT LLC Reduces Stock Holdings in Trane Technologies plc $TT

GRIMES & Co WEALTH MANAGEMENT LLC reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 43.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,561 shares of the company’s stock after selling 1,982 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Trane Technologies were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Aptus Capital Advisors LLC lifted its stake in shares of Trane Technologies by 169.8% during the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after buying an additional 9,276 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $6,571,000. Nordea Investment Management AB increased its position in shares of Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after acquiring an additional 57,774 shares during the period. Boston Common Asset Management LLC purchased a new position in Trane Technologies in the 3rd quarter worth $9,546,000. Finally, Compass Wealth Management LLC lifted its position in Trane Technologies by 3,785.4% during the 3rd quarter. Compass Wealth Management LLC now owns 27,198 shares of the company’s stock worth $11,476,000 after acquiring an additional 26,498 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $466.59 on Friday. The firm has a market capitalization of $103.14 billion, a P/E ratio of 36.09, a PEG ratio of 2.15 and a beta of 1.25. The stock has a 50-day simple moving average of $448.30 and a two-hundred day simple moving average of $426.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the company earned $2.45 earnings per share. Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Trane Technologies’s payout ratio is 32.48%.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’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 completion of the transaction, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,590 shares of company stock valued at $27,403,514 in the last quarter. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley dropped their price target on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. KeyCorp lifted their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BNP Paribas Exane started coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 target price on the stock. Royal Bank Of Canada increased their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $505.56.

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.