Bellecapital International Ltd. Cuts Position in Trane Technologies plc (NYSE:TT)

Bellecapital International Ltd. lessened its position in shares of Trane Technologies plc (NYSE:TT) by 41.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 839 shares of the company’s stock after selling 588 shares during the period. Bellecapital International Ltd.’s holdings in Trane Technologies were worth $283,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. WFA Asset Management Corp grew its stake in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $28,000. Flagship Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 4th quarter valued at about $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 0.3%

Shares of Trane Technologies stock opened at $422.93 on Thursday. 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 firm has a market cap of $94.32 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. The company’s 50-day simple moving average is $388.43 and its 200-day simple moving average is $376.92.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the business posted $1.94 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.89%. Trane Technologies’s payout ratio is currently 31.28%.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. The trade was a 49.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Barclays reduced their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. raised their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Citigroup boosted their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $427.47.

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.