Financial Insights Inc. Decreases Stake in Trane Technologies plc (NYSE:TT)

Financial Insights Inc. decreased its holdings in Trane Technologies plc (NYSE:TT) by 61.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 983 shares of the company’s stock after selling 1,587 shares during the quarter. Financial Insights Inc.’s holdings in Trane Technologies were worth $363,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Secured Retirement Advisors LLC lifted its position in shares of Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company’s stock valued at $1,709,000 after acquiring an additional 28 shares during the last quarter. Catalina Capital Group LLC raised its position in shares of Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock worth $341,000 after purchasing an additional 29 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company’s stock valued at $2,046,000 after purchasing an additional 29 shares during the last quarter. Kanawha Capital Management LLC boosted its position in shares of Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company’s stock valued at $1,740,000 after purchasing an additional 29 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Trane Technologies by 0.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company’s stock worth $3,388,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated 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 owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Performance

NYSE:TT opened at $423.71 on Tuesday. The firm has a market capitalization of $94.50 billion, a PE ratio of 37.66, a PEG 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 $433.60. 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 firm’s fifty day simple moving average is $367.75 and its 200 day simple moving average is $374.96.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given 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 0.89%. Trane Technologies’s dividend payout ratio is 31.28%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Barclays reduced their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. 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 report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.47.

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.