Trane Technologies plc (NYSE:TT) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in Trane Technologies plc (NYSE:TT) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,159 shares of the company’s stock after selling 13,259 shares during the period. Lazard Asset Management LLC owned about 0.07% of Trane Technologies worth $45,075,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TT. Norges Bank acquired a new position in shares of Trane Technologies in the fourth quarter worth about $655,804,000. International Assets Investment Management LLC raised its position in shares of Trane Technologies by 24,670.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock worth $252,296,000 after purchasing an additional 1,030,247 shares during the last quarter. TD Asset Management Inc raised its position in shares of Trane Technologies by 719.8% during the 4th quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after purchasing an additional 659,299 shares during the last quarter. Putnam Investments LLC raised its position in shares of Trane Technologies by 27,824.4% during the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after purchasing an additional 570,679 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Trane Technologies during the 4th quarter worth about $77,615,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TT. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price target on shares of Trane Technologies from $295.00 to $310.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. Stephens upped their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Barclays upped their price target on shares of Trane Technologies from $380.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, UBS Group upped their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $312.36.

Insider Activity

In related news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 2.3 %

Shares of Trane Technologies stock traded up $7.49 during mid-day trading on Friday, hitting $329.71. The stock had a trading volume of 1,232,284 shares, compared to its average volume of 1,436,565. The firm has a 50-day moving average of $332.14 and a two-hundred day moving average of $303.06. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $347.33. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a market cap of $74.63 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Trane Technologies plc will post 10.49 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.