Desjardins Global Asset Management Inc. Cuts Stock Position in Trane Technologies plc (NYSE:TT)

Desjardins Global Asset Management Inc. decreased its holdings in shares of Trane Technologies plc (NYSE:TT) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308 shares of the company’s stock after selling 351 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Trane Technologies were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Trane Technologies in the 4th quarter valued at about $25,000. Live Oak Investment Partners acquired a new position in Trane Technologies during the fourth quarter worth $30,000. Venturi Wealth Management LLC grew its holdings in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $34,000. Finally, Avior Wealth Management LLC grew its position in Trane Technologies by 58.0% in the third quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TT. Royal Bank of Canada increased their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Stephens boosted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group upped their price target on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Citigroup boosted their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $251.83.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $293.09 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The company has a market cap of $66.55 billion, a P/E ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05. The company has a 50-day moving average price of $289.02 and a 200 day moving average price of $250.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.15%. Trane Technologies’s dividend payout ratio is presently 38.23%.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock valued at $8,462,825 over the last quarter. Corporate insiders own 0.39% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.