Paladin Advisory Group LLC Lowers Position in Trane Technologies plc (NYSE:TT)

Paladin Advisory Group LLC lessened its position in Trane Technologies plc (NYSE:TT) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,952 shares of the company’s stock after selling 232 shares during the quarter. Paladin Advisory Group LLC’s holdings in Trane Technologies were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TT. Vanguard Group Inc. raised its stake in Trane Technologies by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after buying an additional 77,924 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the last quarter. FMR LLC raised its stake in Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after buying an additional 632,598 shares during the last quarter. Geode Capital Management LLC raised its stake in Trane Technologies by 1.7% during the first quarter. Geode Capital Management LLC now owns 4,765,976 shares of the company’s stock valued at $874,863,000 after buying an additional 80,607 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Trane Technologies by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after purchasing an additional 103,823 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT traded down $1.29 during mid-day trading on Friday, hitting $288.27. 790,678 shares of the company traded hands, compared to its average volume of 994,617. The stock’s fifty day moving average price is $289.41 and its 200-day moving average price is $250.29. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm has a market cap of $65.46 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

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

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is presently 38.23%.

Analyst Ratings Changes

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

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now owns 89,447 shares of the company’s stock, valued at $24,449,442.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at $24,449,442.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,874 shares of company stock valued at $8,462,825. Company insiders own 0.39% of the company’s stock.

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.