Trane Technologies plc (NYSE:TT) Stake Trimmed by Ascent Group LLC

Ascent Group LLC cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.5% in the fourth quarter, HoldingsChannel reports. The fund owned 12,600 shares of the company’s stock after selling 66 shares during the quarter. Ascent Group LLC’s holdings in Trane Technologies were worth $4,654,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TT. Minot DeBlois Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $28,000. Sound Income Strategies LLC boosted its position in Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after acquiring an additional 92 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TT has been the subject of a number of research reports. Barclays decreased their price objective on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. UBS Group lifted their price target on Trane Technologies from $470.00 to $500.00 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. Hsbc Global Res upgraded shares of Trane Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Stephens upgraded shares of Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.47.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.1%

TT opened at $423.71 on Friday. The business has a 50 day moving average price of $366.28 and a 200 day moving average price of $375.01. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $433.60. 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 firm has a market cap of $94.50 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14.

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

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies’s dividend payout ratio (DPR) is currently 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.