Trane Technologies plc $TT Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,709 shares of the company’s stock after selling 17,291 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Trane Technologies were worth $38,287,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SEB Asset Management AB acquired a new position in Trane Technologies during the first quarter valued at $47,195,000. First Citizens Bank & Trust Co. boosted its position in Trane Technologies by 178.4% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,265 shares of the company’s stock worth $2,832,000 after acquiring an additional 4,015 shares during the period. Saudi Central Bank boosted its position in Trane Technologies by 89.3% during the 2nd quarter. Saudi Central Bank now owns 15,493 shares of the company’s stock worth $7,610,000 after acquiring an additional 7,308 shares during the period. California Public Employees Retirement System grew its stake in Trane Technologies by 51.9% during the 1st quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock valued at $286,172,000 after acquiring an additional 234,666 shares in the last quarter. Finally, NBT Bank N.A. purchased a new position in Trane Technologies during the 3rd quarter valued at about $25,445,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 1.5%

NYSE:TT traded down $6.26 during mid-day trading on Friday, reaching $417.79. The stock had a trading volume of 1,164,075 shares, compared to its average volume of 1,695,128. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79. The stock has a market cap of $91.46 billion, a P/E ratio of 29.51, a PEG ratio of 1.99 and a beta of 1.19. The business’s 50 day moving average is $443.51 and its 200 day moving average is $455.21. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 29th. The company reported $4.86 EPS for the quarter, topping the consensus estimate of $4.74 by $0.12. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.50 billion. During the same period in the previous year, the firm posted $3.88 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies plc will post 15.29 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio is currently 29.66%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TT shares. Wells Fargo & Company began coverage on shares of Trane Technologies in a research report on Friday, September 25th. They issued an “overweight” rating and a $536.00 price target for the company. Argus set a $500.00 price objective on shares of Trane Technologies in a research report on Friday, October 30th. Deutsche Bank lowered their price objective on shares of Trane Technologies from $515.00 to $499.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Robert W. Baird upped their price objective on shares of Trane Technologies from $515.00 to $532.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $500.00 target price on shares of Trane Technologies in a research report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $531.22.

Insider Buying and Selling

In other news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the transaction, the chief executive officer owned 96,951 shares of the company’s stock, valued at $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

About Trane Technologies

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.