Trust Investment Advisors Lowers Position in Trane Technologies plc (NYSE:TT)

Trust Investment Advisors trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,687 shares of the company’s stock after selling 329 shares during the quarter. Trane Technologies makes up approximately 1.1% of Trust Investment Advisors’ holdings, making the stock its 24th largest position. Trust Investment Advisors’ holdings in Trane Technologies were worth $1,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after purchasing an additional 152,353 shares during the period. FMR LLC grew its position in shares of Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares during the period. State Street Corp increased its stake in shares of Trane Technologies by 0.8% in the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after acquiring an additional 77,830 shares in the last quarter. Geode Capital Management LLC lifted its position in Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Trane Technologies by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company’s stock worth $832,691,000 after acquiring an additional 20,151 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TT. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Melius Research restated a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $413.69.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the transaction, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $363.90 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The stock has a 50-day simple moving average of $360.50 and a two-hundred day simple moving average of $380.25. The firm has a market capitalization of $81.62 billion, a PE ratio of 32.35, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

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.