Horan Capital Advisors LLC. Sells 1,775 Shares of Trane Technologies plc (NYSE:TT)

Horan Capital Advisors LLC. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 9.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,654 shares of the company’s stock after selling 1,775 shares during the period. Trane Technologies comprises 2.1% of Horan Capital Advisors LLC.’s portfolio, making the stock its 13th biggest holding. Horan Capital Advisors LLC.’s holdings in Trane Technologies were worth $6,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TT. Massachusetts Financial Services Co. MA grew its holdings in shares of Trane Technologies by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after purchasing an additional 671,691 shares in the last quarter. FMR LLC boosted its stake in Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Nordea Investment Management AB boosted its stake in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Trane Technologies by 47,293.6% in the fourth quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock worth $93,476,000 after buying an additional 252,548 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in Trane Technologies by 470.9% in the fourth quarter. AustralianSuper Pty Ltd now owns 179,794 shares of the company’s stock worth $66,407,000 after buying an additional 148,302 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $345.30 on Tuesday. Trane Technologies plc has a 12-month low of $279.00 and a 12-month high of $422.00. The company has a market cap of $77.45 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. The stock has a fifty day simple moving average of $370.62 and a two-hundred day simple moving average of $380.68. 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 released its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost 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 1.09%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 29.87%.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David S. Regnery sold 2,318 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.17, for a total value of $830,238.06. Following the sale, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,563 shares of company stock valued at $4,388,966. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Northcoast Research assumed coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. Barclays boosted their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group lowered their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $415.25.

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.