Trust Investment Advisors Sells 117 Shares of Trane Technologies plc (NYSE:TT)

Trust Investment Advisors cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,403 shares of the company’s stock after selling 117 shares during the period. Trane Technologies comprises approximately 1.6% of Trust Investment Advisors’ investment portfolio, making the stock its 10th biggest holding. Trust Investment Advisors’ holdings in Trane Technologies were worth $2,049,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in shares of Trane Technologies during the 4th quarter valued at approximately $25,000. Live Oak Investment Partners purchased a new position in Trane Technologies in the fourth quarter valued at $30,000. Venturi Wealth Management LLC raised its position in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after acquiring an additional 88 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Trane Technologies in the first quarter worth about $34,000. Finally, Avior Wealth Management LLC grew its position in shares of Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock valued at $36,000 after acquiring an additional 65 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 1.2 %

Trane Technologies stock traded down $3.53 during trading on Thursday, reaching $289.56. 646,295 shares of the company were exchanged, compared to its average volume of 997,287. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $289.02 and its two-hundred day simple moving average is $250.01. The company has a market capitalization of $65.75 billion, a P/E ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.16%. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the sale, the senior vice president now directly owns 42,575 shares in the company, valued at $11,591,469.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the sale, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,874 shares of company stock worth $8,462,825. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

TT has been the subject of a number of analyst reports. Barclays upped their price target on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Stephens increased their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Citigroup lifted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada boosted their price target on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $251.83.

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.