Trane Technologies plc $TT Shares Sold by Corient IA LLC

Corient IA LLC trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 62.4% during the 3rd quarter, Holdings Channel reports. The fund owned 2,700 shares of the company’s stock after selling 4,486 shares during the quarter. Trane Technologies makes up about 0.9% of Corient IA LLC’s investment portfolio, making the stock its 23rd largest position. Corient IA LLC’s holdings in Trane Technologies were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of TT. Brighton Jones LLC increased its holdings in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC grew its position in Trane Technologies by 22.4% during the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after buying an additional 305 shares during the period. Schnieders Capital Management LLC. purchased a new position in Trane Technologies in the second quarter valued at $227,000. Hantz Financial Services Inc. raised its position in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 61 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in shares of Trane Technologies by 222.7% during the 2nd quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock worth $62,000 after acquiring an additional 98 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 822 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the transaction, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,766,554.83. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the sale, the chief financial officer owned 60,486 shares of the company’s stock, valued at approximately $27,986,872.20. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,936 shares of company stock worth $4,133,991 in the last quarter. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the subject of several recent analyst reports. UBS Group cut their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Oppenheimer increased their target price on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Citigroup lifted their price target on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Melius Research raised shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Down 0.1%

Shares of TT opened at $445.20 on Thursday. The stock has a 50 day moving average price of $421.28 and a 200 day moving average price of $417.04. Trane Technologies plc has a one year low of $298.15 and a one year high of $479.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market capitalization of $98.54 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.35 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.61 EPS. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 annualized dividend and a yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is currently 28.97%.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.