Trane Technologies plc (NYSE:TT) Shares Purchased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG grew its position in shares of Trane Technologies plc (NYSE:TT) by 453.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,022 shares of the company’s stock after buying an additional 63,096 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Trane Technologies were worth $28,448,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter worth $26,000. Sound Income Strategies LLC boosted its position in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter worth approximately $39,000. Finally, BankPlus Trust Department purchased a new stake in Trane Technologies during the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Price Performance

NYSE TT opened at $333.33 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $74.76 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $288.95 and a 12-month high of $422.00. The company has a 50 day moving average price of $344.98 and a two-hundred day moving average price of $374.66.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, June 6th. Trane Technologies’s payout ratio is 33.42%.

Wall Street Analyst Weigh In

TT has been the topic of a number of recent research reports. Citigroup reduced their price objective on Trane Technologies from $476.00 to $415.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Trane Technologies from $396.00 to $323.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Finally, UBS Group decreased their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Trane Technologies presently has an average rating of “Hold” and an average target price of $405.31.

About Trane Technologies

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.