L & S Advisors Inc Decreases Stock Holdings in Trane Technologies plc $TT

L & S Advisors Inc reduced its position in shares of Trane Technologies plc (NYSE:TT) by 80.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,855 shares of the company’s stock after selling 15,516 shares during the period. L & S Advisors Inc’s holdings in Trane Technologies were worth $1,627,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after acquiring an additional 305 shares during the period. Koshinski Asset Management Inc. bought a new stake in Trane Technologies in the second quarter valued at $253,000. Schnieders Capital Management LLC. purchased a new position in Trane Technologies during the 2nd quarter valued at $227,000. Finally, Avidian Wealth Enterprises LLC bought a new position in Trane Technologies in the 2nd quarter worth $213,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Donald E. Simmons sold 822 shares of the company’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 directly owned 3,819 shares of the company’s stock, valued at $1,766,554.83. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher J. Kuehn sold 2,389 shares of the 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 sale, the chief financial officer directly owned 60,486 shares in the company, valued at $27,986,872.20. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,936 shares of company stock worth $4,133,991 over the last three months. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Melius Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a report on Wednesday, January 7th. Oppenheimer upped their target price on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Barclays increased their target price on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, KeyCorp upgraded Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a research report on Monday, December 15th. 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 assigned a Sell rating to the company. According to data from MarketBeat, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Stock Performance

Shares of TT opened at $459.04 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $101.60 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.48 and a beta of 1.21. The business’s 50 day moving average price is $407.88 and its 200-day moving average price is $415.03. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37.

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

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. 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.