Cantor Fitzgerald Investment Advisors L.P. Decreases Stock Position in Trane Technologies plc (NYSE:TT)

Cantor Fitzgerald Investment Advisors L.P. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,935 shares of the company’s stock after selling 109 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Trane Technologies were worth $1,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MWA Asset Management boosted its position in Trane Technologies by 2.7% in the 4th quarter. MWA Asset Management now owns 1,763 shares of the company’s stock valued at $651,000 after buying an additional 47 shares during the last quarter. EULAV Asset Management grew its position in shares of Trane Technologies by 65.5% during the fourth quarter. EULAV Asset Management now owns 48,000 shares of the company’s stock worth $17,729,000 after buying an additional 19,000 shares in the last quarter. NatWest Group plc increased its stake in shares of Trane Technologies by 12.4% in the fourth quarter. NatWest Group plc now owns 35,936 shares of the company’s stock worth $13,273,000 after buying an additional 3,955 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Trane Technologies during the 4th quarter worth $39,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Trane Technologies in the 4th quarter valued at about $1,053,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In other news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,157 shares of company stock worth $3,168,885 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

NYSE TT opened at $356.07 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $80.12 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a 12-month low of $265.37 and a 12-month high of $422.00. The company has a 50 day moving average price of $384.85 and a two-hundred day moving average price of $376.96.

Trane Technologies (NYSE:TT) last announced 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%. As a group, equities analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TT shares. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research report on Tuesday, January 28th. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $415.25.

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.