Beverly Hills Private Wealth LLC Has $1.49 Million Stock Position in Trane Technologies plc (NYSE:TT)

Beverly Hills Private Wealth LLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,022 shares of the company’s stock after selling 141 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Trane Technologies were worth $1,485,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Trane Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock worth $1,234,908,000 after acquiring an additional 130,867 shares in the last quarter. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter worth about $1,117,816,000. Finally, Northern Trust Corp grew its stake in Trane Technologies by 20.1% during the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock valued at $948,316,000 after acquiring an additional 429,953 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $323.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup boosted their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a report on Thursday. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Wells Fargo & Company boosted their target price on Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.07.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This trade represents a 49.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,805 shares of company stock valued at $3,945,082. 0.38% of the stock is owned by company insiders.

Trane Technologies Price Performance

NYSE TT opened at $399.68 on Friday. The company has a market cap of $89.14 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.50 and a beta of 1.14. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $344.26 and a 200 day simple moving average of $372.04.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a dividend yield of 0.94%. Trane Technologies’s payout ratio is 31.28%.

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.