Blue Trust Inc. Decreases Stake in Trane Technologies plc (NYSE:TT)

Blue Trust Inc. lessened its position in shares of Trane Technologies plc (NYSE:TT) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,663 shares of the company’s stock after selling 1,207 shares during the quarter. Blue Trust Inc.’s holdings in Trane Technologies were worth $983,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TT. MidAtlantic Capital Management Inc. bought a new position in shares of Trane Technologies during the 3rd quarter valued at approximately $27,000. Global Wealth Strategies & Associates bought a new position in Trane Technologies during the fourth quarter valued at $26,000. DT Investment Partners LLC purchased a new position in shares of Trane Technologies in the 3rd quarter worth $36,000. Sound Income Strategies LLC increased its holdings in shares of Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after buying an additional 92 shares during the last quarter. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at about $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $363.58 on Friday. Trane Technologies plc has a 12 month low of $270.50 and a 12 month high of $422.00. The stock’s fifty day moving average price is $378.44 and its 200-day moving average price is $378.47. The firm has a market cap of $81.55 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.44 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TT shares. Northcoast Research began coverage on Trane Technologies in a research note on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. HSBC downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Citigroup dropped their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $415.25.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock worth $4,388,966 in the last three months. 0.38% of the stock is owned by insiders.

Trane Technologies 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.