Lowe Brockenbrough & Co. Inc. Sells 14,134 Shares of Trane Technologies plc (NYSE:TT)

Lowe Brockenbrough & Co. Inc. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 34.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,331 shares of the company’s stock after selling 14,134 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Trane Technologies were worth $9,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TT. Whittier Trust Co. of Nevada Inc. increased its position in Trane Technologies by 6.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,300 shares of the company’s stock valued at $849,000 after acquiring an additional 148 shares during the period. Blueshift Asset Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $270,000. Wilkins Investment Counsel Inc. raised its position in Trane Technologies by 27.6% during the 4th quarter. Wilkins Investment Counsel Inc. now owns 893 shares of the company’s stock worth $330,000 after purchasing an additional 193 shares during the last quarter. Magnetar Financial LLC acquired a new position in Trane Technologies during the 4th quarter worth about $5,073,000. Finally, Teacher Retirement System of Texas grew its position in shares of Trane Technologies by 25.9% in the 4th quarter. Teacher Retirement System of Texas now owns 220,483 shares of the company’s stock valued at $81,435,000 after buying an additional 45,298 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TT shares. Northcoast Research assumed coverage on Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective for the company. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $413.69.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 over the last ninety days. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Down 0.2 %

Shares of NYSE:TT opened at $349.24 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $286.32 and a 52-week high of $422.00. The business’s 50 day simple moving average is $361.84 and its two-hundred day simple moving average is $379.62. The firm has a market cap of $78.33 billion, a P/E ratio of 31.04, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS 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%. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 33.42%.

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.