Trane Technologies plc (NYSE:TT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Trane Technologies plc (NYSE:TT) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,227,668 shares of the company’s stock after selling 143,521 shares during the quarter. Trane Technologies accounts for approximately 0.7% of Federated Hermes Inc.’s holdings, making the stock its 25th biggest holding. Federated Hermes Inc. owned 0.54% of Trane Technologies worth $299,428,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TT. BKM Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $25,000. Live Oak Investment Partners acquired a new stake in Trane Technologies during the 4th quarter worth approximately $30,000. Venturi Wealth Management LLC raised its holdings in Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after buying an additional 88 shares during the period. 1832 Asset Management L.P. acquired a new stake in Trane Technologies during the 1st quarter worth approximately $34,000. Finally, Avior Wealth Management LLC raised its holdings in Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company’s 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 transaction, the chief financial officer now directly owns 54,788 shares in the company, valued at $14,700,168.28. The disclosure for this sale can be found here. Insiders have sold 29,874 shares of company stock worth $8,462,825 over the last ninety days. Insiders own 0.39% of the company’s stock.

Trane Technologies Trading Up 0.7 %

TT stock traded up $2.02 during trading on Thursday, hitting $295.11. The company had a trading volume of 177,728 shares, compared to its average volume of 990,818. The business has a 50-day moving average of $289.02 and a 200-day moving average of $250.01. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98. The stock has a market cap of $67.01 billion, a PE ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 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 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 for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 10.2 earnings per share 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. Investors of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is presently 38.23%.

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.