Natixis Advisors L.P. Sells 13,395 Shares of Trane Technologies plc (NYSE:TT)

Natixis Advisors L.P. reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,324 shares of the company’s stock after selling 13,395 shares during the quarter. Natixis Advisors L.P. owned about 0.05% of Trane Technologies worth $27,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Family Investments Inc. bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $220,000. Wilbanks Smith & Thomas Asset Management LLC bought a new position in Trane Technologies during the fourth quarter valued at $205,000. First Trust Direct Indexing L.P. raised its stake in shares of Trane Technologies by 14.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 6,489 shares of the company’s stock valued at $1,583,000 after acquiring an additional 799 shares during the period. Summit Financial LLC bought a new stake in shares of Trane Technologies in the 4th quarter worth about $715,000. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of Trane Technologies in the 4th quarter worth about $203,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TT. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday. The Goldman Sachs Group upped their price objective on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays lifted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho boosted their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $300.54.

Trane Technologies Trading Up 0.8 %

NYSE TT opened at $319.29 on Friday. The company’s 50-day simple moving average is $295.83 and its two-hundred day simple moving average is $257.93. Trane Technologies plc has a one year low of $162.04 and a one year high of $327.09. The company has a market capitalization of $72.27 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. Trane Technologies’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. Equities analysts forecast that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Insider Activity at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Paul A. Camuti sold 508 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,237 shares of company stock valued at $8,024,534 over the last quarter. 0.39% of the stock is owned by corporate 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.