Trane Technologies plc $TT Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd reduced its position in Trane Technologies plc (NYSE:TT) by 4.6% in the 1st quarter, Holdings Channel reports. The fund owned 37,729 shares of the company’s stock after selling 1,808 shares during the period. USS Investment Management Ltd’s holdings in Trane Technologies were worth $15,730,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new position in Trane Technologies during the second quarter worth about $227,000. Nebula Research & Development LLC boosted its stake in Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after buying an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock valued at $45,552,000 after buying an additional 497 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 1.2%

Shares of NYSE:TT opened at $485.28 on Thursday. The stock has a 50-day simple moving average of $470.72 and a 200-day simple moving average of $440.06. The stock has a market capitalization of $107.27 billion, a P/E ratio of 37.53, a PEG ratio of 2.26 and a beta of 1.19. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. 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 (NYSE:TT) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.45 earnings per share. Equities analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced 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. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at approximately $1,909,500. The trade was a 54.60% decrease in their position. 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, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This trade represents a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. KeyCorp increased their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Barclays upped their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. 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 research note on Friday, May 1st. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price objective for the company. Finally, Citigroup upped their price objective on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Trane Technologies 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.