Vontobel Holding Ltd. Has $88.72 Million Stake in Trane Technologies plc (NYSE:TT)

Vontobel Holding Ltd. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 2.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 228,230 shares of the company’s stock after selling 6,362 shares during the quarter. Vontobel Holding Ltd.’s holdings in Trane Technologies were worth $88,720,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in Trane Technologies in the 1st quarter valued at $206,211,000. 1832 Asset Management L.P. grew its holdings in shares of Trane Technologies by 7,363.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 422,785 shares of the company’s stock valued at $139,067,000 after acquiring an additional 417,120 shares in the last quarter. TD Asset Management Inc increased its position in shares of Trane Technologies by 41.2% in the first quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock valued at $318,402,000 after acquiring an additional 309,738 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Trane Technologies by 162.7% during the second quarter. Point72 Asset Management L.P. now owns 447,705 shares of the company’s stock worth $147,263,000 after acquiring an additional 277,274 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Trane Technologies by 379.2% during the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after purchasing an additional 242,271 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded down $1.82 on Wednesday, hitting $395.68. The stock had a trading volume of 315,576 shares, compared to its average volume of 1,093,285. The stock has a market cap of $89.56 billion, a price-to-earnings ratio of 42.38, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The business’s 50 day moving average is $365.09 and its two-hundred day moving average is $337.64. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $406.96.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $2.68 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Trane Technologies’s payout ratio is presently 35.90%.

Analysts Set New Price Targets

Several research firms have weighed in on TT. Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. Barclays boosted their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $367.33.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.