Trane Technologies plc (NYSE:TT) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,268 shares of the company’s stock after selling 15,071 shares during the quarter. Trane Technologies comprises approximately 1.6% of Anchor Capital Advisors LLC’s portfolio, making the stock its 18th largest holding. Anchor Capital Advisors LLC’s holdings in Trane Technologies were worth $60,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after buying an additional 436,997 shares in the last quarter. Xponance Inc. boosted its position in shares of Trane Technologies by 18.6% during the 4th quarter. Xponance Inc. now owns 43,825 shares of the company’s stock worth $10,689,000 after purchasing an additional 6,869 shares in the last quarter. CHICAGO TRUST Co NA grew its position in Trane Technologies by 2.1% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after buying an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 in the last quarter. Finally, Wealth Effects LLC purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $239,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TT. Stephens lifted their price target on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup boosted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price target 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. The Goldman Sachs Group upped their price objective 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. Finally, Barclays boosted their price target on 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 given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $251.83.

Insider Transactions at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO David S. Regnery sold 6,990 shares of the firm’s 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 transaction, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul A. Camuti sold 508 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total value of $138,856.72. Following the sale, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently owned by corporate insiders.

Trane Technologies Stock Down 1.2 %

Shares of NYSE TT traded down $3.67 on Monday, hitting $300.86. The company had a trading volume of 1,878,048 shares, compared to its average volume of 1,009,652. The firm has a market capitalization of $68.32 billion, a P/E ratio of 34.65, a PEG ratio of 2.57 and a beta of 1.05. 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 plc has a 12-month low of $162.04 and a 12-month high of $307.95. The business has a 50 day moving average of $292.22 and a two-hundred day moving average of $254.87.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data 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 company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the company earned $1.82 earnings per share. Trane Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies plc will post 10.2 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

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.