Trane Technologies plc (NYSE:TT) Stock Position Lowered by Rathbones Group PLC

Rathbones Group PLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,819 shares of the company’s stock after selling 779 shares during the quarter. Rathbones Group PLC’s holdings in Trane Technologies were worth $27,265,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Global Wealth Strategies & Associates acquired a new stake in Trane Technologies during the 4th quarter worth about $26,000. Sound Income Strategies LLC lifted its position in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC bought a new position in shares of Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup decreased 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 cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. 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. UBS Group cut their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $413.69.

Insider Activity

In related news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 in the last quarter. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $318.18 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The firm has a market cap of $71.36 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.50 and a beta of 1.08. The stock has a 50-day moving average price of $351.63 and a 200 day moving average price of $379.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS 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%. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. Trane Technologies’s dividend payout ratio is 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.