Carnegie Capital Asset Management LLC Lowers Holdings in Trane Technologies plc (NYSE:TT)

Carnegie Capital Asset Management LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,110 shares of the company’s stock after selling 184 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Trane Technologies were worth $1,246,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Trane Technologies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after acquiring an additional 77,924 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 boosted its stake in shares of Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trane Technologies by 1.7% in the 1st 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 in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock valued at $821,952,000 after buying an additional 103,823 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 1.0 %

Shares of NYSE TT opened at $293.88 on Tuesday. The company has a 50 day simple moving average of $288.12 and a 200-day simple moving average of $249.06. The company has a market capitalization of $66.73 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies plc has a 1 year low of $162.04 and a 1 year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. On average, equities research analysts predict that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given 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 1.14%. Trane Technologies’s payout ratio is currently 38.23%.

Insider Buying and Selling

In related news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Keith A. Sultana sold 1,983 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Wells Fargo & Company raised their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a research note on Tuesday, December 19th. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Citigroup increased their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. 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. Finally, Barclays increased their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.