Mn Services Vermogensbeheer B.V. Sells 2,400 Shares of Trane Technologies plc (NYSE:TT)

by · The Markets Daily

Mn Services Vermogensbeheer B.V. reduced its holdings in Trane Technologies plc (NYSE:TT – Free Report) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,573 shares of the company’s stock after selling 2,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Trane Technologies were worth $34,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TT. Empowered Funds LLC grew its position in shares of Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after buying an additional 3,866 shares during the period. Sei Investments Co. raised its holdings in Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after purchasing an additional 242,271 shares during the period. Albar Capital Ltd acquired a new position in shares of Trane Technologies in the 2nd quarter valued at $14,556,000. M&G Plc bought a new stake in shares of Trane Technologies in the 1st quarter valued at $8,939,000. Finally, Gradient Investments LLC lifted its holdings in Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after acquiring an additional 1,997 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.4 %

Shares of NYSE TT traded up $1.46 during trading hours on Monday, hitting $377.61. The company had a trading volume of 161,900 shares, compared to its average volume of 1,102,154. Trane Technologies plc has a 1-year low of $214.35 and a 1-year high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $377.83 and its 200-day moving average is $346.08. The stock has a market capitalization of $84.97 billion, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02.

Trane Technologies (NYSE:TT – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm posted $2.79 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 11.06 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies’s payout ratio is 31.17%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TT shares. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Barclays lifted their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday. Robert W. Baird cut their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Mizuho increased their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $380.15.

View Our Latest Analysis on TT

Trane Technologies Profile

(Free Report)

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.

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