Vontobel Holding Ltd. Sells 11,186 Shares of Trane Technologies plc (NYSE:TT)

Vontobel Holding Ltd. cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 497,493 shares of the company’s stock after selling 11,186 shares during the period. Vontobel Holding Ltd. owned 0.22% of Trane Technologies worth $121,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rosenberg Matthew Hamilton lifted its position in Trane Technologies by 27.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after acquiring an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Trane Technologies by 2.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock valued at $450,000 after acquiring an additional 42 shares during the last quarter. Cedrus LLC lifted its position in Trane Technologies by 2.6% during the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after acquiring an additional 43 shares during the last quarter. Certuity LLC raised its holdings in shares of Trane Technologies by 3.1% in the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after buying an additional 46 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Trane Technologies by 2.4% in the third quarter. Integrated Wealth Concepts LLC now owns 1,972 shares of the company’s stock worth $400,000 after buying an additional 46 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

TT stock traded down $0.28 during midday trading on Friday, hitting $296.96. 996,306 shares of the stock traded hands, compared to its average volume of 786,448. The firm has a market cap of $67.43 billion, a P/E ratio of 33.78, a PEG ratio of 2.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock’s fifty day simple moving average is $287.68 and its 200-day simple moving average is $248.09. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 1.13%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the stock an “underweight” rating in a report on Tuesday, December 19th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Citigroup raised their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Stephens raised their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $251.83.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Christopher J. Kuehn sold 2,767 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Trane Technologies 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.