Trane Technologies plc (NYSE:TT) Stock Position Trimmed by Cullinan Associates Inc.

Cullinan Associates Inc. lowered its stake in Trane Technologies plc (NYSE:TT) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,815 shares of the company’s stock after selling 85 shares during the period. Cullinan Associates Inc.’s holdings in Trane Technologies were worth $1,127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC increased its stake in Trane Technologies by 12.9% during the third quarter. Ballentine Partners LLC now owns 2,648 shares of the company’s stock valued at $1,029,000 after acquiring an additional 302 shares during the period. Busey Bank raised its holdings in shares of Trane Technologies by 32.4% during the third quarter. Busey Bank now owns 976 shares of the company’s stock worth $379,000 after acquiring an additional 239 shares during the period. Moody Lynn & Lieberson LLC boosted its position in shares of Trane Technologies by 1.2% during the third quarter. Moody Lynn & Lieberson LLC now owns 2,700 shares of the company’s stock worth $1,050,000 after buying an additional 33 shares during the period. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $36,000. Finally, Assenagon Asset Management S.A. lifted its stake in Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock valued at $162,175,000 after purchasing an additional 181,335 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TT. Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens restated an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Wells Fargo & Company boosted their price objective on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Mizuho upped their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $373.58.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.1 %

Shares of Trane Technologies stock traded up $0.43 during trading hours on Friday, reaching $393.00. 51,513 shares of the company were exchanged, compared to its average volume of 1,090,515. The firm has a market cap of $88.96 billion, a PE ratio of 41.94, a PEG ratio of 2.75 and a beta of 1.01. The stock’s fifty day moving average is $372.79 and its 200 day moving average is $341.49. Trane Technologies plc has a 1 year low of $184.24 and a 1 year high of $406.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 earnings per share. As a group, equities research analysts forecast that Trane Technologies plc will post 10.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Trane Technologies Company 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.