Callan Capital LLC Sells 444 Shares of Trane Technologies plc (NYSE:TT)

Callan Capital LLC lowered its position in shares of Trane Technologies plc (NYSE:TT) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,612 shares of the company’s stock after selling 444 shares during the period. Callan Capital LLC’s holdings in Trane Technologies were worth $393,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. FMR LLC raised its stake in Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares during the last quarter. Ameriprise Financial Inc. boosted its position 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 acquiring an additional 103,823 shares during the last quarter. Morgan Stanley increased its position in shares of Trane Technologies by 0.6% in the third quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after acquiring an additional 17,758 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Trane Technologies by 4.3% during the 3rd quarter. Northern Trust Corp now owns 2,522,449 shares of the company’s stock worth $511,830,000 after buying an additional 104,653 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Trane Technologies Stock Performance

Trane Technologies stock traded up $5.16 during midday trading on Friday, reaching $304.53. 914,197 shares of the stock traded hands, compared to its average volume of 998,386. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $306.98. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The firm has a market cap of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.50 and a beta of 1.05. The firm has a fifty day moving average price of $292.22 and a two-hundred day moving average price of $254.25.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping 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 period in the previous year, the company posted $1.82 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.10%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the completion of the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by corporate insiders.

Trane Technologies 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.