Trane Technologies plc $TT Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its stake in Trane Technologies plc (NYSE:TT) by 22.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,518 shares of the company’s stock after selling 1,893 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Trane Technologies were worth $2,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TT. Old Port Advisors increased its position in Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock worth $328,000 after purchasing an additional 24 shares during the last quarter. OneAscent Wealth Management LLC raised its position in shares of Trane Technologies by 1.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after buying an additional 24 shares during the period. Bridgewater Advisors Inc. lifted its holdings in Trane Technologies by 3.7% in the third quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after acquiring an additional 24 shares during the last quarter. West Family Investments Inc. grew its position in Trane Technologies by 2.3% in the third quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock worth $452,000 after acquiring an additional 24 shares during the period. Finally, Cresset Asset Management LLC increased its stake in Trane Technologies by 0.3% during the third quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock worth $2,959,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. UBS Group reduced their target price on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Oppenheimer increased their target price on shares of Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Barclays boosted their price target on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Trane Technologies has an average rating of “Moderate Buy” and a consensus price target of $484.67.

Trane Technologies Price Performance

Trane Technologies stock opened at $426.66 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. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $479.37. The firm has a market cap of $94.43 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. The company’s 50 day moving average is $428.78 and its two-hundred day moving average is $417.24.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a yield of 1.0%. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio is 32.36%.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 36,045 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald E. Simmons sold 3,762 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $1,590,197.40. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 49,378 shares of company stock valued at $21,228,464. Corporate insiders own 0.14% of the company’s stock.

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.