Clearstead Trust LLC Sells 1,500 Shares of Trane Technologies plc (NYSE:TT)

Clearstead Trust LLC cut its position in Trane Technologies plc (NYSE:TT) by 38.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,434 shares of the company’s stock after selling 1,500 shares during the quarter. Clearstead Trust LLC’s holdings in Trane Technologies were worth $594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Wellington Management Group LLP grew its stake in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Xponance Inc. increased its holdings in shares of Trane Technologies by 18.6% during the fourth quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after purchasing an additional 6,869 shares during the period. CHICAGO TRUST Co NA raised its position in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock valued at $765,000 after buying an additional 64 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Trane Technologies by 60.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,239 shares of the company’s stock valued at $27,375,000 after buying an additional 42,409 shares during the period. Finally, Wealth Effects LLC acquired a new stake in Trane Technologies during the fourth quarter worth approximately $239,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares in the company, valued at $14,700,168.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction on 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 of the company’s stock, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders sold 28,237 shares of company stock valued at $8,024,534 over the last quarter. Insiders own 0.39% of the company’s stock.

Trane Technologies Trading Up 0.8 %

Shares of Trane Technologies stock traded up $2.50 on Friday, hitting $319.29. The stock had a trading volume of 1,074,535 shares, compared to its average volume of 1,049,630. The stock has a 50 day moving average of $295.83 and a 200 day moving average of $257.93. The firm has a market capitalization of $72.27 billion, a P/E ratio of 34.11, a PEG ratio of 2.52 and a beta of 1.01. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $327.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Trane Technologies’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts expect that Trane Technologies plc will post 10.47 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TT shares. Royal Bank of Canada upped their target price on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their price objective on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday. Robert W. Baird raised their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen upped their price target on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays increased their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $300.54.

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.