Sapient Capital LLC Sells 106 Shares of Trane Technologies plc (NYSE:TT)

Sapient Capital LLC reduced its position in shares of Trane Technologies plc (NYSE:TT) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,968 shares of the company’s stock after selling 106 shares during the period. Sapient Capital LLC’s holdings in Trane Technologies were worth $1,191,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TT. Wellington Management Group LLP raised its position in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the period. Xponance Inc. raised its position in Trane Technologies by 18.6% in the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after acquiring an additional 6,869 shares during the period. CHICAGO TRUST Co NA raised its position in Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after acquiring an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Trane Technologies by 60.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock worth $27,375,000 after acquiring an additional 42,409 shares during the period. Finally, Wealth Effects LLC bought a new stake in Trane Technologies in the fourth quarter worth about $239,000. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Trane Technologies Price Performance

NYSE:TT traded up $16.50 during mid-day trading on Tuesday, hitting $317.36. 2,419,606 shares of the stock traded hands, compared to its average volume of 1,027,150. The business’s 50-day moving average price is $293.61 and its 200 day moving average price is $256.33. The company has a market cap of $72.06 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. Trane Technologies plc has a 12-month low of $162.04 and a 12-month high of $327.09. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its 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 net margin of 11.45% and a return on equity of 32.01%. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the business posted $1.82 earnings per share. Trane Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Trane Technologies plc will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.06%. Trane Technologies’s payout ratio is presently 38.23%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of Trane Technologies stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 over the last three months. 0.39% of the stock is owned by insiders.

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.