Clifford Swan Investment Counsel LLC Lowers Holdings in Trane Technologies plc (NYSE:TT)

Clifford Swan Investment Counsel LLC trimmed its position in Trane Technologies plc (NYSE:TT) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,358 shares of the company’s stock after selling 430 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Trane Technologies were worth $4,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in Trane Technologies by 61.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,637 shares of the company’s stock valued at $607,000 after buying an additional 625 shares during the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $106,000. Jacobi Capital Management LLC boosted its stake in shares of Trane Technologies by 9.7% in the fourth quarter. Jacobi Capital Management LLC now owns 3,055 shares of the company’s stock valued at $1,129,000 after buying an additional 271 shares in the last quarter. Bank OZK boosted its stake in shares of Trane Technologies by 7.5% in the fourth quarter. Bank OZK now owns 6,888 shares of the company’s stock valued at $2,544,000 after buying an additional 478 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $1,362,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TT. Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays lifted their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company decreased their price target 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. boosted their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada upped their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $415.25.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,563 shares of company stock valued at $4,388,966. Company insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 2.9 %

Shares of TT stock opened at $354.22 on Friday. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 2.50 and a beta of 1.05. 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 has a 50-day moving average price of $371.26 and a 200 day moving average price of $380.45. Trane Technologies plc has a twelve month low of $279.00 and a twelve month high of $422.00.

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

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio is presently 29.87%.

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.