Fideuram Asset Management Ireland dac Purchases Shares of 3,100 Trane Technologies plc $TT

Fideuram Asset Management Ireland dac purchased a new stake in Trane Technologies plc (NYSE:TT) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,100 shares of the company’s stock, valued at approximately $1,103,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC lifted its stake in Trane Technologies by 169.8% in the third quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock valued at $6,219,000 after buying an additional 9,276 shares during the period. Nordea Investment Management AB lifted its stake in Trane Technologies by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock valued at $1,010,419,000 after buying an additional 72,998 shares during the period. Farther Finance Advisors LLC lifted its stake in Trane Technologies by 64.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock valued at $2,911,000 after buying an additional 2,917 shares during the period. Varma Mutual Pension Insurance Co lifted its stake in Trane Technologies by 9.0% in the third quarter. Varma Mutual Pension Insurance Co now owns 43,811 shares of the company’s stock valued at $18,486,000 after buying an additional 3,600 shares during the period. Finally, Korea Investment CORP lifted its stake in Trane Technologies by 17.5% in the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock valued at $86,373,000 after buying an additional 30,558 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald E. Simmons sold 4,593 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 53,654 shares of company stock worth $23,269,523. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent research reports. Royal Bank Of Canada boosted their price objective on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays boosted their price objective on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $506.56.

Trane Technologies Trading Down 0.1%

NYSE TT opened at $451.68 on Friday. The business has a 50 day moving average price of $455.43 and a 200-day moving average price of $430.04. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $503.47. The company has a market cap of $99.85 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 2.08 and a beta of 1.25. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.