Alphinity Investment Management Pty Ltd Trims Position in Trane Technologies plc (NYSE:TT)

Alphinity Investment Management Pty Ltd lessened its stake in Trane Technologies plc (NYSE:TT) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,523,713 shares of the company’s stock after selling 475,630 shares during the period. Trane Technologies accounts for about 3.1% of Alphinity Investment Management Pty Ltd’s portfolio, making the stock its 20th largest position. Alphinity Investment Management Pty Ltd owned 0.68% of Trane Technologies worth $562,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY increased its position in Trane Technologies by 1.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after purchasing an additional 27 shares during the period. Wescott Financial Advisory Group LLC increased its position in Trane Technologies by 1.7% during the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after purchasing an additional 28 shares during the period. Secured Retirement Advisors LLC increased its position in 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 purchasing an additional 28 shares during the period. First Citizens Financial Corp increased its position in Trane Technologies by 4.6% during the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after purchasing an additional 29 shares during the period. Finally, Catalina Capital Group LLC increased its position in Trane Technologies by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock valued at $341,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $350.30 on Thursday. The stock has a market capitalization of $78.57 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a twelve month low of $279.00 and a twelve month 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 stock has a 50-day moving average of $372.37 and a 200 day moving average of $380.26.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $0.94 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.07%. Trane Technologies’s dividend payout ratio is presently 29.87%.

Analysts Set New Price Targets

TT has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, Northcoast Research assumed coverage on Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $415.25.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is owned by company insiders.

Trane Technologies 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.